Your best source on politics and government news from Qatar
Provided by AGP
Switzerland Confronts 'Very High' Fuel Shortage Risk
(MENAFN) Switzerland is confronting a sharply elevated risk of fuel shortages, with the secretary-general of Suissenegoce — the country's commodities trade association — sounding the alarm Monday over rapidly deteriorating conditions in global energy markets, media reported.
"To be honest, the situation is really getting complicated," Florence Schurch told French-language publications Tribune de Genève and 24 heures.
Schurch noted that red flags had already been raised as early as March, when Suissenegoce cautioned that strategic fuel reserves in multiple nations — among them the Philippines, Vietnam, and Bangladesh — risked being depleted as early as this month.
Turning to natural gas, Schurch characterized the outlook as "serious," cautioning that summer stockpiles — typically built up to buffer winter demand — may fall critically short, in part due to the destruction of a refinery in Qatar that she indicated is unlikely to be restored in the near term.
Schurch also projected a steep climb in global food prices, though she acknowledged Switzerland would likely be more insulated from the worst effects than other nations.
A structural vulnerability she flagged concerns Switzerland's practice of storing its gas reserves on foreign soil — primarily in Germany and France — warning that such reliance could become a serious liability during crisis periods.
"The COVID experience has taught us that, in emergency situations, international support can fail," she said, drawing a parallel to blocked shipments of protective masks at the height of the pandemic.
Schurch further highlighted that Switzerland operates just a single oil refinery, satisfying roughly 20% of domestic consumption, and suggested the federal government may be willing to absorb higher market prices to safeguard energy security.
The broader crisis traces back to Feb. 28, when the US and Israel launched military operations against Tehran, prompting Iran to shut down the Strait of Hormuz — a chokepoint through which approximately one-fifth of the world's oil and liquefied natural gas supplies flow. Washington subsequently imposed its own blockade on Iranian ports, a measure still currently in force.
While a ceasefire has taken hold, maritime movement through the vital waterway remains severely constrained.
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
