Moldova plans to create strategic reserve of petroleum products for 60 days of consumption by 2034
CHISINAU. May 20 (Interfax) - The Moldovan government intends to create a reserve stock of petroleum products equal to 90 days of imports or 60 days of domestic consumption by 2034, Energy Minister Dorin Junghietu said, citing a bill approved by the government on Wednesday.
"Recent geopolitical events, including tensions in the Middle East, have once again demonstrated how fragile the stability of international energy markets and petroleum product supply chains can be. The Republic of Moldova does not produce oil, has no refineries, and is entirely dependent on imports. Therefore, any external shock has consequences that are felt in people's lives," Junghietu said at a meeting, according to the state news agency Moldpress.
Junghietu also said that the system would be implemented in stages over eight years. The full strategic reserve level should be reached by July 1, 2034.
Junghietu explained that the government's proposed mechanism envisions the creation of a central storage facility (CSF) by the state, which would fulfill half of the reserve creation obligations. The remaining stockpiling responsibilities are assigned to importing companies. At least 50% of the strategic reserve must be stored in Moldova. The other half could be stored in warehouses in other countries or in intangible form.
Moldova's National Agency for Energy Regulation (ANRE) will monitor importers' compliance with their obligations to creation a reserve, and the country's Energy Ministry will be responsible for the CSF's operations.
The plan envisages creating reserves for gasoline, diesel, jet fuel, fuel oil, and liquefied petroleum gas.
"Responsibility for storage is shared between the public sector and the market, without placing the entire burden on the state budget or blocking the activities of economic operators," Junghietu noted.
Junghietu said that the project creates conditions for attracting investment in storage infrastructure and the development of logistics services.
As previously reported, the country's authorities on March 25 declared a 60-day state of emergency in the energy sector amid disruptions in petroleum product supplies to Moldova owing to the Middle East crisis and damage to the Isaccea-Vulcanesti power line. The state of emergency was lifted on April 25 once petroleum product supplies had stabilized and the power line had been repaired. Authorities are managing the energy situation through a state of heightened readiness.
