The European Union plans to resume the work of the AggregateEU joint gas procurement platform, which was Brussels' response to instability in the Middle East. This is reported by Politico.
The aim of the initiative is to combine the requests of European companies to strengthen their position in negotiations with foreign suppliers. The updated program will also include coordination of purchases of oil, hydrogen and raw materials, as well as strengthening control over the aviation kerosene market. The European Commission believes that such an approach will provide the bloc with the necessary "bargaining power in Asia."
"We do not start from scratch with this coordination in the energy sector, but we can do more and we can do better," said European Commission President Ursula von der Leyen, defending the project.
Despite the support of the EU leadership, the idea is skeptical among business representatives. Critics point to possible disruption of supply chains and lack of transparent data, noting that direct bilateral contracts are often more efficient than the bureaucratic mechanisms of Brussels.
At the same time, the EU insists on the importance of a unified approach to prevent situations where wealthier member states artificially inflate prices on the market for less affluent neighbors.
We remind you that world markets may face a sharp rise in food prices due to shipping disruptions in the Strait of Hormuz. The blocking of this strategic route is already affecting the supply of energy and fertilizers, creating serious risks for the global agricultural sector.
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