Von der Leyen calls for joint EU buying of critical materials as gas prices surge 140%

Ursula von der Leyen used her annual State of the Union speech before the European Parliament in Strasbourg on Wednesday to set out a new push for joint buying and storage of important materials, tying Europe’s industrial resilience to its energy security.

The initiative includes a proposed European Corporation on Critical Raw Materials, intended to support common procurement and storage for materials used in electric cars, chips, batteries, clean technology and military technology.

Von der Leyen said the EU depends on China for more than 80 percent of many critical raw materials. The Critical Raw Materials Act entered into force in May 2024, and an EU platform for joint raw-material procurement began in April 2026. The platform is designed to bring together demand from European companies in pursuit of better prices and steadier supply conditions.

The Commission’s argument comes after a rapid reshaping of Europe’s energy supplies. The EU moved quickly to reduce its reliance on Russian gas after Moscow’s fully-fledged invasion of Ukraine in February 2022.

Since the end of February, gas prices have risen by 140 per cent and diesel prices have doubled. Imported fossil fuels have cost Europe a total of 100 billion euros more since the start of the war with Iran.

The prolonged closure of the Strait of Hormuz has blocked a route carrying 20 per cent of the world’s liquefied natural gas and a quarter of its seaborne oil.

At a climate conference in Hamburg, von der Leyen said global disruption and volatility were the “new normal”. She said: “2024 will be a decisive year, with more geo-economic tensions expected -- from the Red Sea to the Taiwan Strait -- which also means more frequent disruptions to supply chains and greater volatility on the energy markets”.

She said energy prices still needed to fall. Von der Leyen also pointed to differences across the bloc: in one member state, a megawatt-hour of electricity costs around 145 euros, with gas largely setting the price, while in another it costs about 70 euros, where nuclear energy and renewables mainly determine the price.

The EU was likely to generate more energy from wind and solar than from gas in 2024. Yet the Commission’s latest decisions also reflect pressure from countries seeking more time to meet new rules on fossil-fuel imports.

Energy Commissioner Dan Jørgensen signalled a possible one-year delay to the part of the methane regulation covering imported fossil fuels. The Czech Republic had pushed to defer parts of the regulation, later winning support from 19 other countries, including Germany.

On 6 October 2026 in Strasbourg, von der Leyen announced that exporters would receive another year of flexibility to prepare for the requirements. From 1 January 2027, importers must show that their fuel comes from producers that monitor, report and verify methane leaks to standards equivalent to the EU’s.