French President Emmanuel Macron said during his Gulf tour that the United Arab Emirates and Bahrain had pledged an additional 200,000 tonnes of diesel a month for France, as Paris seeks to ease pressure on fuel supplies.
Saudi Arabia has also made a diesel commitment, Macron said at a news conference in Doha. He said the Gulf pledges were intended to protect French consumers and the economy.
Macron said France had secured the equivalent of 2 terawatt-hours of liquefied natural gas a month from Qatar for the winter. He identified diesel and gas as supply priorities and said France was reducing its energy dependence, citing vehicle electrification.
The French government has linked pressure on fuel supplies to disrupted shipping through the Strait of Hormuz. A government report in March said imports met half of France’s diesel demand before the Middle East crisis. The government has identified farmers, fishers and transport companies among businesses facing higher fuel costs.
The Gulf tour was planned weeks before protests over living costs and fuel prices in France. Macron has linked those concerns to the conflict in the Persian Gulf. He said he decided to keep the previously planned visit despite the unrest.
Macron said earlier releases from strategic fuel reserves should help lower pump prices from early November if other conditions remain steady. He also cited a shipping initiative from April as part of France’s efforts to address fuel transport.
Too few vessels are insured to carry fuel through the region, while shipping costs remain high, Macron said. France will work with regional partners on a proposal to guarantee shipping in the coming days and weeks, he said.
