New step toward strengthening energy security: Moldova to establish emergency reserves of petroleum products

The Republic of Moldova will establish emergency reserves of petroleum products. This is provided for in a draft law approved today by Parliament in the first reading, with 59 deputies voting in favor. The document provides for the creation of a system through which the state and importing companies will build up reserves of gasoline, diesel, kerosene, fuel oil, and liquefied petroleum gas, which can be used in emergency situations.

According to authorities, the initiative will reduce the country’s vulnerability to external shocks and ensure the continuity of fuel supplies to the economy and citizens.

State Secretary of the Ministry of Energy Vitalie Mîța said at the parliamentary session that the initiative is, first and foremost, a necessary measure for the country’s energy security, given that the Republic of Moldova depends on imports of petroleum products.

“The aim of this bill is to establish a clear, functional national mechanism, compatible with European Union legislation, through which the Republic of Moldova can prevent and manage situations of major disruption in the supply of petroleum products. Through this bill, the Republic of Moldova will transpose the European directive, which requires member states to maintain a minimum level of crude oil or petroleum product stocks,” said Vitalie Mîța.

The document stipulates that by 2034, petroleum product stocks equivalent to 61 days of consumption or 90 days of imports will be established. At least half of the stocks are to be kept in the Republic of Moldova, while the remainder may be held in overseas storage facilities or in dematerialized form.

The model proposed by the law is a hybrid one: 50% of the stockpiling obligation will fall to the Central Stockpiling Entity, and the other half to companies importing petroleum products. This formula allows for the division of responsibilities between the state and the market, without placing the entire financial burden on the public budget or on economic operators.

MP Radu Marian argued that the bill is particularly important in light of the recent energy crisis, triggered by developments in the Middle East, which has highlighted the need for larger fuel reserves.

Inga Sibova, a member of the Communist Party of the Republic of Moldova faction said that the faction supports the need to create petroleum product reserves but criticized the financing mechanism used to establish them. In this context, the faction announced that it would not support the bill in its proposed form.

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