Amman, Mar. 24 (Petra) – Jordan holds sufficient fuel reserves to maintain electricity generation for approximately one month in the event of a total supply disruption, according to Minister of Energy and Mineral Resources Saleh Al-Kharabsheh. In press remarks, the Minister confirmed that the Kingdom also possesses a broader strategic stockpile of refined petroleum products ranging between 30 and 60 days, depending on the specific derivative.

Al-Kharabsheh emphasized that these emergency reserves remain untouched, acting as a critical hedge against potential systemic shocks or further supply chain volatility. He noted that the national energy sector continues to operate under rigorous contingency frameworks designed to ensure continuity of supply across all sectors.

The Ministry detailed a significant escalation in the cost of thermal generation due to the ongoing regional crisis. Prior to recent geopolitical shifts, the landed cost of natural gas for power generation stood at approximately $7 per million British thermal units (MMBtu). However, the necessity of pivoting toward liquefied natural gas (LNG) has seen procurement costs surge to $28 per MMBtu – a fourfold increase.

This transition, coupled with the intermittent use of heavy fuel oil and diesel to meet peak demand, has placed an acute burden on the treasury. The government is currently absorbing additional daily costs estimated between JOD 2.5 million and JOD 3 million to maintain current tariff structures. Despite these fiscal headwinds, Al-Kharabsheh ruled out the implementation of "load shedding" or programmed power outages, affirming that supply chains remain functional.

The Minister provided an update on the Risha gas field, highlighting a strategic push toward energy independence. The National Petroleum Company is currently executing a development plan aimed at drilling 80 new wells to reach a production ceiling exceeding 400 million cubic feet per day (mcf/d) by 2029.

With Jordan’s current average daily consumption hovering around 340 mcf/d, the successful expansion of the Risha field would allow domestic production to fully cover national demand. Parallel to the drilling program, the government is preparing to tender a dedicated pipeline to transport gas from Risha to key industrial hubs, with completion scheduled for 2029.

Regarding domestic fuel prices for the upcoming month, the Minister noted that global benchmarks have seen a marked appreciation, with crude oil trading near the $100 per barrel mark. The Fuel Pricing Committee is scheduled to convene at the end of March to review international price movements and determine local adjustments. Al-Kharabsheh assured that the government remains committed to mitigating the impact of global volatility on Jordanian consumers where possible.

//Petra// AA