The European Commission has expressed confidence in the EU’s energy supply security despite disruptions to global supply chains caused by the conflict in the Middle East. It emphasized that EU member states currently hold sufficient reserves of oil and natural gas.
Supply Security Stable, Prices Remain Concern
Anna-Kaisa Itkonen, a Commission spokesperson, stated clearly: “We are far less concerned about supply security than we are about high energy prices.” She noted that the immediate impact of the Middle East conflict on European energy markets remains limited in the short term, thanks to the EU’s strategic diversification of energy sources.
Diversified Imports Reduce Vulnerability
Although Europe remains a net energy importer, it now sources natural gas and oil from a broader range of suppliers—combining pipeline deliveries with liquefied natural gas (LNG) imports from around the world. According to Itkonen, Norway is the EU’s largest pipeline gas supplier, while the United States is its top LNG provider.
She also confirmed that the EU does not import oil or natural gas from Iran—a factor that further limits the direct impact of regional instability on European energy supplies.
Adequate Emergency Reserves
All EU member states maintain emergency oil stocks sufficient to cover 90 days of consumption. “Member states must inform the Commission if they release these reserves. To our knowledge, no country has done so yet,” Itkonen stressed.
Regarding natural gas, strategic storage levels remain high across the EU and are sufficient to meet demand through the rest of the winter. “From our perspective, the situation in Europe is currently under control and remains stable,” she said, adding that the Commission closely monitors developments via its Energy Security Task Force and maintains regular contact with the International Energy Agency.
G7 Coordination and Upcoming EU Review
Discussions on strategic oil reserves are underway among G7 countries, which held a virtual meeting today. Next Thursday, March 12, 2026, the EU’s coordination group of member states will review the outcomes of the G7 talks, assess national stock levels, and consider whether any additional measures are needed.
For now, the Commission notes that it already possesses tools developed in response to the recent energy crisis—but says no emergency measures are required at this stage.
New ‘Energy for Citizens’ Package Coming
The Commission is set to present its new “Energy for Citizens” package tomorrow in Strasbourg. The initiative aims to accelerate investment in clean technologies and renewable energy, reduce dependence on imported fossil fuels, and lower energy bills for households and businesses.
According to the Commission, member states with the highest shares of renewables in their energy mix have seen the most significant reductions in wholesale electricity prices over the past year.