Portugal guarantees energy reserves for 93 days, says ENSE

Portugal has reserves for 93 days of consumption, in a scenario of disruption, indicated ENSE, noting that national imports have no exposure to Hormuz in the quantities of goods purchased and transported.

“It is important to clarify that, in fact, Portugal has reserves (around 93 days of consumption) to face a scenario of disruption in the normal functioning of the country”, explained ENSE – National Entity for the Energy Sector, in response to Lusa.

However, he noted that Portuguese imports do not have exposure to the Strait of Hormuz “in the quantities of goods acquired and transported to the national territory”.

Natural gas and barrels of oil are transported through the Strait of Hormuz, closed by Iran.

Even so, he highlighted that there is a position that has the cost factor as an “exogenous condition” for the country’s escalation, but said that it would not be the use of reserves that would be able to avoid it.

As he pointed out, the Hormuz situation will only have a more structural impact on prices if the situation lasts for many weeks.

At this time, there is no reason for alarm, all that is necessary is close monitoring in the short term.

“In this sense, it is important to assess, at a European level, the evolution of the situation which, for now, will not generate, from now on, a supply problem, and that is exactly what is happening in the European Union with the sharing of information to analyze this issue and decide on the need to take response measures”, he added.

ENSE also insisted that Portugal is not exposed to the Strait of Hormuz in terms of supply and that, in the event of intervention, this must be articulated, “at least, at a European level”.

On Monday, the Minister of Economy and Territorial Cohesion, Manuel Castro Almeida, stated that Portugal “has important reserves” and that, for now, “there is nothing to fear”. “We have important reserves that I hope will last beyond the time that is announced and the time that this war will last. At the moment, there is nothing to fear in that regard,” he said.