Swiss energy supply is secure despite conflict in Middle East, say officials
Switzerland's energy supply is secure despite the ongoing conflict in the Middle East, according to government officials.
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Swiss energy supply is secure despite conflict in Middle East, say officials
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A meeting of a national committee responsible for energy supply security was held on Tuesday, attended by Economics Minister Guy Parmelin and Energy Minister Albert Rösti.
The committee will meet again “as soon as a change in the situation emerges”, the Federal Council said in a statement.
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The group’s last meeting was in March 2022, a few weeks after the start of the war in Ukraine.
In view of the current stability of supply in Switzerland, the Federal Council has no legal basis to intervene in the market. But if a serious shortage were to emerge, measures prepared in advance, such as the release of mandatory oil reserves, would be implemented.
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US oil buoys Swiss fossil fuel needs amid Middle East conflict
Global impact
The conflict in the Middle East has caused energy prices to rise and has had an impact on global energy supply.
Switzerland announced last week that it would not participate for now in the voluntary release of oil reserves by the International Energy Agency (IEA).
According to the government, these reserves are held by the companies that market the products. They can cover national needs for petroleum products for 4.5 months and for kerosene for 3 months, a spokesperson for the Federal Office for National Economic Supply (FONES) told the Keystone-ATS news agency.
This corresponds to approximately 14.5 million barrels of petrol and diesel, 8.6 million barrels of heating oil and 2.4 million barrels of kerosene.
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Where Switzerland stands on the Iran war
Adapted from French by AI/sb
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