Cyprus has enough fuel supplies to last for two months, according to the Electricity Authority of Cyprus (EAC). In a statement on Monday, EAC spokesperson Christina Papadopoulou reassured the public that the authority does not foresee supply issues despite ongoing conflicts in the Middle East.
“At this time, our storage tanks located at various power stations have enough fuel for two months,” Papadopoulou told the Cyprus Mail. This announcement comes amidst global concerns as about 20 per cent of oil consumption passes through the Strait of Hormuz, a crucial shipping route for energy supplies.
While the EAC has not established a contingency plan specifically for fuel supplies, it is closely monitoring the situation. “Our suppliers of mazut (heavy fuel oil) and diesel have made provisions for deliveries for the next month,” Papadopoulou added.
In a timely development, the EAC is expecting a scheduled shipment of mazut from Spain on Tuesday, indicating that regular fuel deliveries are continuing. Typically, the authority receives shipments every two to three weeks, maintaining a steady supply.
Private-sector fuel importers have echoed the EAC’s sentiments, stating that there is no immediate cause for concern. Dinos Lefkaritis, executive chairman of Petrolina, shared with the Cyprus News Agency, “We’re covered, we don’t have a specific problem.” Currently, Petrolina holds enough stocks to last approximately 15 days, which aligns with typical standards for Cyprus.
Lefkaritis also noted that a fuel shipment from Israel arrived on Sunday evening without any disruptions. However, he did mention the need for vigilance, stating, “Today we’ll take another look at things. Possibly we might need to stop, depending on what the refinery in Haifa tells us.”
In the event of supply issues, Lefkaritis reassured that petrol companies have alternative options available. “VTTV has the largest energy storage and distribution terminal in the eastern Mediterranean, and we can buy from there, or we can buy from Greece, Malta, or Italy,” he explained. “There’s no worry of running out of fuel.”
