Moldova to have national emergency oil stocks system for first time

The Republic of Moldova will introduce a national emergency reserve mechanism for petroleum products, according to a draft law approved by the Government. The document provides for the creation of a system through which the state and importing companies will establish stocks of gasoline, diesel, kerosene, fuel oil and liquefied petroleum gas, which can be used in emergency situations. This will reduce the country’s vulnerability to external shocks and ensure the continuity of fuel supply to the economy and citizens.

In the Republic of Moldova, stocks equivalent to at least 90 days of net imports or 61 days of domestic consumption will be ensured, depending on which indicator is higher. 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 petroleum products importing companies. 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.

According to the draft, the Central Storage Entity will be created or designated by the Government. It will contribute to establishing and maintaining the state’s emergency reserves, so that the Republic of Moldova can react quickly in the event of supply crises or major disruptions on international energy markets.

“Recent geopolitical developments, including tensions in the Middle East, have once again shown how fragile the stability of international energy markets and petroleum products supply chains can be. The Republic of Moldova does not produce crude oil, has no refineries and depends entirely on imports, therefore any external shock has consequences that are felt in people’s daily lives. Under such conditions, supply security is no longer a technical or abstract notion, but is directly reflected in fuel prices at the pump, in people’s mobility and in the functioning of the day-to-day economy,” stated Minister Dorin Junghietu.

The system will be implemented gradually, 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 1 July 2034.

At least half of the emergency stocks will have to be kept on the territory of the Republic of Moldova. The rest of the reserves may be maintained in other states, based on bilateral agreements, or in other forms allowed by legislation.

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

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.