27 May 2026 22:00 UTC · European Commission · EU Commission Press Release · Source · Email X Link

European Commission says EU stresses shipping for energy security

Key points

Shipping underpins EU energy security
EU prioritises diversification and alternative fuels

TL;DR

European Commission welcomes temporary reopening of the Strait of Hormuz and calls for an end to hostilities and permanent freedom of navigation.
The EU currently has full oil and gas emergency stocks but faces high prices and import dependency, making it vulnerable to global supply shocks.
Shipping and port infrastructure are essential to deliver oil, LNG and refined fuels; the US has become the EU's largest LNG supplier, with imports rising from 45 to 76 billion cubic metres.
The EU must diversify supplies, scale up alternative fuels, and maintain a resilient shipping sector to ensure energy security during geopolitical stress.

Original text

European Commission - Speech [Check Against Delivery] Video message for roundtable discussion on LNG & Shipping organised by CBS Alumni Club and Columbia Global Energy Centre Brussels, 28 May 2026 Ladies and gentlemen, I have been asked to present the EU perspective on the closure of the Strait of Hormuz. But first, allow me to welcome that finally after month and a half, the Strait was opened at least for the course of the ceasefire. Because no matter where you are in the world, we are all impacted. The only way to move forwards is diplomacy, and I add my voice to the many others calling for an end to hostilities, and a return to permanent freedom of navigation. As I speak, energy supply is not a problem in Europe. Yet at least. Member States' oil and gas emergency stocks are full, and we are prepared if they are needed. But high prices are a problem. And not just in Europe. The EU imports most of its energy, making us vulnerable. But when global oil and gas prices increase, consumers elsewhere also feel it. Prices in the US have risen less steeply, because of domestic production and energy exports. For Europe, shipping is an energy lifeline. Oil, LNG and refined fuels such as diesel, jet fuel and bunker fuel arrive primarily by sea. Shipping also connects producers and consumers across continents. The global dimension is particularly visible in major producers' exports. The rapid growth of US LNG and oil exports in recent years, for example, has depended heavily on internationally active fleets, including European vessels. The current crisis underlines what we have been saying for some time about Europe's reliance on imported energy. Dependency makes us vulnerable. And we cannot afford to be vulnerable. We need to continue diversifying our energy supply, rapidly step up the production of alternatives fuels within the EU and transition away from fossil fuels. Actually, the maritime sector enables diversification. It allows us to source crude oil, petroleum products and LNG from a range of suppliers, to redirect cargoes across regions, and to avoid excessive reliance on any single route or region. LNG has a growing role in Europe's energy mix. This is only possible due to port infrastructure and shipping, supported by strong transatlantic cooperation. The US has rapidly become our first LNG supplier – and Europe is the US' largest LNG customer by far. In fact, energy is central in the EU-US trade deal. And record-breaking volumes of energy now flow across the Atlantic. Last year, the EU imported 76 billion cubic metres of US LNG, up from 45 billion cubic metres in 2024. I see real potential for further growth this year and next, as we implement our REPowerEU strategy. In fact, we recently signed several long-term LNG import agreements with the US. The EU-US trade deal is critical to ensuring the EU's energy security while the EU accelerates the full and permanent phase out of Russian fossil fuels. Ladies and gentlemen, when chokepoints come under pressure, the importance of shipping is immediately clear. Energy security is not only about access to resources, but also about the capacity to transport them safely and reliably. This capacity is not infinite, however. Constraints in specialised tanker segments, including LNG carriers, can influence how quickly, and at what scale, flows can be redirected, particularly in times of crisis. The current crisis also highlights practical limits. Longer voyages, rerouting, war-risk conditions, and higher insurance and freight costs reduce the availability of vessels and increase the delivered cost of energy, even when supply exists. From the European perspective, the conclusion is clear. A resilient shipping sector is not only vital for Europe's own energy security. It's also a bedrock of international trade, our partners' exports, and energy markets that function in times of geopolitical stress. Thank you SPEECH/26/977

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