Moldova strengthens energy security: Parliament approves creation of emergency petroleum product stocks

The Republic of Moldova is establishing, for the first time, a national emergency stock mechanism for petroleum products, designed to reduce the country’s vulnerability to external shocks and to ensure the continuous supply of fuel to the economy and citizens. Thus, consumers in Moldova will be able to be supplied with petroleum products even in crisis situations or in the event of major market disruptions. This provision is included in a draft law approved today by Parliament, in the second reading, with the votes of 56 MPs.

Under the decision, Moldova will create petroleum product stocks equivalent to 61 days of consumption or 90 days of imports. At least half of these stocks are to be kept in the Republic of Moldova, while the rest can be maintained in storage facilities abroad or in non-physical form.

Implementation of the system will be gradual, over a period of eight years, so that storage infrastructure and the market can adapt step by step. The full level of strategic reserves is to be reached by 30 June 2034.

The model proposed by the law is a hybrid one: 50% of the storage obligation will fall to the Central Storage Entity, and the other half to companies that import petroleum products. The authorities say this formula allows responsibilities to be shared between the state and the market, without placing the entire financial burden on the public budget or on economic operators.

The draft law also introduces a mechanism for continuous monitoring of reserves. The Ministry of Energy will manage the national register of emergency stocks, and the National Agency for Energy Regulation will supervise compliance with storage obligations by economic operators.

During the parliamentary debates on the draft, MP Ion Chicu asked what volume of financial resources is needed to create the petroleum product stocks. The Chair of the Parliamentary Committee on Economy, Budget and Finance, Radu Marian, stressed that no financial resources will be allocated from the state budget for the implementation of the project.

“No resources will be allocated from the state budget, but as indicated in the draft law, at the beginning a provisional contribution is set, until the quotas for each importer are determined, of 0.48 lei per liter, excluding VAT. This amount will be paid by importers at the time of import at the border. The money will be accumulated in a special treasury account by the state, which will start the procurement procedures. This is in the first stage. Later, in approximately six months, colleagues from the Ministry of Energy and from ANRE will establish the contribution quotas for each importer. But provisionally, importers will have to pay 0.48 lei for each liter imported, which will be retained in a treasury account. So it will not be money from the budget,” explained Radu Marian at the Parliament session.

In crisis situations, the decision on the use of reserves will be taken within the national crisis management mechanism, so that the state can intervene quickly and in an organized manner to avoid major supply disruptions.

The new legislative amendments enter into force upon the publication in the Official Journal. Subsequently, within 8 months, the Government will create or designate the Central Storage Entity. Also, within one month from entry into force, the National Agency for Energy Regulation will include the contribution for emergency stocks in the specific commercial margin for the retail sale of standard-type main petroleum products.