Iran Conflict Closely Tracked by IENE as Impact on SEE and the East Mediterranean Worsens

Since the start of the latest conflict between Israel-USA and Iran which erupted on February 28, IENE has kept close track of developments and has also talked directly to various of its sources in the region. In addition to reporting through its various regular publications, including the Weekly Energy Report -where a special Iran war file has been inserted- the SEE Electricity & Gas Analysis and the Monthly Analysis, the Institute has prepared and published a special News Analysis and a series of IENE Comments (see here, here and here).

Also, during the recent Roundtable on “ SEE Energy Security” which was convened by the IENe and held in Brussels at the European Parliament on March 19, developments in the Gulf and their impact on European energy markets were discussed at length. The Institute will continue to monitor closely the situation in the Gulf and the broader vicinity, as events unfold and energy supply is impacted. The report with the findings of the Roundtable, still under preparation, are most revealing concerning the lack of EU strategy and on oil and gas over the last ten years, and consequently the lack of any real provisions,as the block was happily marching towards its green dream. Suddenly it is becoming most evident that renewables alone -with or without storage- are in no position to handle the great bulk of EU energy needs which are 70% fossil fuel driven.

The Institute will continue for s long as necessary to cover developments in the war zone in the Gulf area which are related to oil and gas production, shipments and supplies. A number of further News Analyses are planned while some in depth research is under way.