Macron urges EU to accelerate natural gas storage amid energy crisis

French President Emmanuel Macron has announced plans to urge the European Commission to accelerate the expansion of natural gas storage across Europe. This move comes as energy markets face intense pressure due to geopolitical instability.

Macron attributed historically high fuel prices to ongoing conflicts and the crisis in the Strait of Hormuz, which is a critical artery for global energy trade. He noted that the destruction of energy infrastructure in Russia and Ukraine due to the Russian invasion has further exacerbated global energy price surges, predicting that market pressures will not ease in the coming weeks.

Regarding maritime security, Macron stated that France is working to facilitate the peaceful reopening of the Strait of Hormuz. While communication channels exist between Iran and the United States, negotiations remain difficult. France has expressed readiness to assist in securing maritime transport by escorting tankers and container ships once an agreement is reached.

Addressing domestic concerns, Macron noted that while France has protected its citizens effectively during the pandemic and the energy crisis, the nation now faces significant responsibilities regarding public finances. He also emphasized that European security is fundamentally tied to the situation in Ukraine.