Radu Marian
This provision is contained in the draft law on security of supply of petroleum products adopted in the first reading by the Parliament.
The draft law regulates the mechanism of creation, maintenance, management and utilization of emergency stocks of oil products. Thus, consumers in the Republic of Moldova will be able to receive oil products even in crisis situations or in case of major market disruptions.
According to the document, the emergency stocks will be created both by the Central Storage System (ECS) and the importers of oil products, and the obligations will be shared equally by both parties. The process of stockpiling will take place gradually, until June 30, 2034, in order to avoid financial pressure on the state budget and the economic situation in the country.
The individual storage obligations of petroleum products under the ECS system for each importer will be calculated and set by the Ministry of Energy based on data provided monthly by economic operators. The amount of obligatory stocks will be proportional to the amount of imported petroleum products in the previous calendar year. At the same time, 75% of the total volume of emergency stocks will be gasoline and diesel fuel.
About 60% of the total volume of stocks should be stored on the territory of the Republic of Moldova, but part of the stocks can also be placed outside the country on the basis of bilateral agreements concluded with the host states.
The draft also provides for the possibility of creating stocks in intangible form through contracts that provide for the right, but not the obligation, to purchase petroleum products based on predetermined criteria. At the same time, emergency stocks in tangible form will be stored in authorized storage facilities, including bonded warehouses and free zones.
The National Energy Regulatory Agency will monitor compliance with storage obligations by economic agents, and the project introduces sanctions for non-compliance with legal provisions. ECS activities will be supervised by the Ministry of Energy.
The document will be considered by the Parliament in the second reading.
Once adopted, the law will enter into force from the date of publication in the Official Gazette. Subsequently, within 8 months, the Government will establish or designate a Central Repository.
