Moldova to create emergency petroleum product stocks: decision approved by Government

The Republic of Moldova will create emergency stocks of petroleum products in accordance with European standards, in order to strengthen the state’s capacity to ensure continuity of supply and reduce external vulnerabilities. The draft law providing for this measure was approved today by the Government.

The document stipulates that by 2034 stocks of petroleum products will be built up equivalent to 61 days of consumption or 90 days of imports. At least half of these stocks are to be stored in the Republic of Moldova, while the rest may be held in storage facilities abroad or in non-physical form.

Minister of Energy Dorin Junghietu stated that the draft provides for the creation of a national mechanism through which the Republic of Moldova can prevent and manage any major disruption in the supply of petroleum products.

“Recent geopolitical developments, including tensions in the Middle East, have once again shown how fragile the stability of international energy markets and the supply chains for petroleum products can be. Under such conditions, security of supply is no longer a technical or abstract notion; it is directly reflected in prices at the pump, in people’s mobility and in the day-to-day functioning of the economy. The Republic of Moldova is one of the countries most exposed to these risks. We do not produce crude oil, we have no refineries and we depend almost entirely on imports. Therefore, any external shock, a conflict that generates logistical blockages or sudden price fluctuations, produces consequences that are felt in people’s lives and in the state of the economy. Under these conditions, the state needs a functional instrument to ensure emergency stocks of petroleum products,” the minister said at the Government meeting.

Thus, the draft establishes the intervention and stockpiling mechanism, which is aligned with European Union standards. The proposed model is a hybrid one. Half of the storage obligation will be ensured by the Central Storage Entity (CSE), and the other half by importing companies.

“More precisely, the storage responsibility is shared between the public sector and the market, without placing the entire burden on the state budget and without blocking the activity of economic operators,” the head of the Energy Ministry stressed.

Dorin Junghietu further argued that the draft creates conditions for investment in storage infrastructure and the development of logistics services, which over time can mean greater security, stability and predictability for the entire economy.

“Essentially, this project means one simple and concrete thing: to have fuel reserves, clear rules and the capacity to intervene quickly in order to protect citizens and the economy. Through this law, we strengthen the state’s ability to ensure the continuity of supply with petroleum products, we reduce external vulnerabilities and we consolidate economic resilience in line with European standards,” Dorin Junghietu concluded.

According to the document, emergency stocks will be built up gradually. ANRE will be responsible for monitoring the quantity and quality of the emergency stocks held by petroleum product importers, while the Ministry of Energy will be responsible for monitoring the CSE’s fulfillment of its storage obligation.