Moldova's legislation establishes mechanism for authorizing operators holding emergency stocks of oil products
The legislation establishes a distinct authorization mechanism for operators that will ensure the storage in Moldova of oil products meant for emergency stocks. The parliament has voted on a draft law to this end in the second reading.
According to the document prepared by the Energy Ministry, oil product storage services for the purpose of establishing and maintaining emergency stocks may be provided only by operators of storage facilities authorized by the National Energy Regulatory Agency (ANRE). The authorization will be issued by ANRE free of charge for a period of five years.
The authorization regime will apply exclusively to emergency stocks and will not cover the ordinary commercial activity of storing oil products. Its purpose is to verify the capacity of operators and facilities to ensure the special conditions required for the safe storage of emergency stocks.
In last May, the parliament adopted the Law on the Security of Oil Products Supply, which provides that Moldova will maintain emergency stocks of oil products sufficient to cover domestic consumption for 61 days or the equivalent of at least 90 days of net imports, depending on whichever indicator is higher. The process of establishing the stocks will take place gradually, until June 30, 2034, in order to avoid financial pressure on the public budget and the economic environment and to ensure that all consumers are supplied with oil products even in crisis situations or in the event of major market disruptions.
The draft law will be submitted to parliament for consideration in the second reading. Following adoption, the legislative amendments will enter into force on the date of their publication in the Official Journal.
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