Israel will begin supplying jet fuel to Germany following a recent request received by the Energy Ministry, the Foreign Affairs Ministry (MFA) announced in a X/Twitter post on Wednesday.
Energy Minister Eli Cohen instructed relevant experts to approve the request after the Ministry’s Fuel Administration determined a surplus in jet fuel production, according to the MFA.
The MFA noted that shipments would be contingent on the evolving security situation, with all exports coordinated with the refineries.
Foreign Minister Gideon Sa’ar informed German Economic Affairs and Energy Minister Katherina Reiche of the decision during his recent trip to Berlin, the MFA said.
The Energy and Infrastructure Ministry will further examine the possibility of exporting natural gas to Germany, the MFA added.
Business morale in Germany’s chemical industry fell to its lowest level in almost three years in April, weighed down by global supply chain disruptions linked to the Iran war, a survey showed on Wednesday.
The Ifo Institute said its business climate index for the chemical sector fell to minus 29.0 points last month, down from minus 25.1 points in March.
Supply chain disruptions triggered by the Iran crisis have led to an uptick in incoming orders, the survey showed. However, material shortages are a challenge, with one in three companies affected.
According to the institute, companies expect further price hikes to counter increased chemical costs. However, they see the rise in demand as temporary and plan to cut back production in the coming months.
Despite the worsening climate reading, assessments of the current business situation improved slightly, with that index rising to minus 27.1 points in April from minus 31.2 in March, the institute said.
Germany’s chemicals sector is a pillar of Europe’s largest economy and a major supplier to its auto, construction, and manufacturing industries, making it highly sensitive to global trade disruptions and energy and raw material costs.
Source:
www.jpost.com
