The Electricity Authority (EAC) said Monday that its fuel stocks are adequate and that for the moment it does not anticipate problems with supplies amid the conflict raging in the Middle East.

“At this time, our storage tanks located at various power stations have enough fuel for two months,” EAC spokesperson Christina Papadopoulou told the Cyprus Mail.

About 20 per cent of global oil consumption passes through the Strait of Hormuz in the Persian Gulf, does the state-run power utility have a contingency plan for supplies?

The EAC said it has not, but added that the situation is being monitored.

“Our suppliers of mazut (heavy fuel oil) and diesel have made provisions for deliveries for the next month,” Papadopoulou said.

As it happens, on Tuesday the EAC expects a scheduled shipment of mazut from Spain.

The EAC typically receives fuel shipments every two to three weeks.

Similar assurances were given by private-sector fuel importers.

Executive chairman of Petrolina, Dinos Lefkaritis told the Cyprus News Agency there is no cause for concern at the moment.

Right now the company has stocks lasting 15 days – considered normal for Cypriot standards.

Shipments of fuel arrive about once a week.

“We’re covered, we don’t have a specific problem,” Lefkaritis said.

There are no disruptions so far, he added, citing a fuel shipment from Israel arriving on Sunday evening.

But he added: “Today we’ll take another look at things. Possibly we might need to stop, depending on what the refinery in Haifa tells us.”

In case of a problem, Lefkaritis said, petrol companies have alternatives available to them.

For example, they could get fuel supplies from VTTV, which has the largest energy storage and distribution terminal in the eastern Mediterranean.

“VTTV have their traders, and we can buy from there, or we can buy from Greece, or from Malta or Italy.”

He added: “There’s no worry of running out of fuel.”