Serbia: Establishment of mandatory oil stocks at the latest by 2023

19. November 2013. / News Serbia Energy

Serbia has an obligation to maintain required reserves of oil and oil products by 2013, which will provide sufficient quantities of these fuels in the event of supply disruption, said at the Assembly of Serbia Prof. Dr Zoran Mihajlovic, Minister of Energy, Development and the Environmental Protection.

Presenting the new law in the Serbian Parliament on goods reserves, the minister said that Serbia is obliged to establish a mandatory oil reserves to cover 90 days of average daily net imports or 61 days of average daily consumption by 31 December 2022.

The draft law states that, in the period from 2014 to 2023, for the establishment of mandatory reserves and petroleum products will take around 700 MEUR.

Mihajlovic explained that the new law stipulates the obligation to establish reserves of petroleum and petroleum products in the event that the safety of Serbian energy supply and fuels, due to disruptions in supply, is at risk.

“In addition that  the establishment of a central storage body is foreseen, that mandatory reserves for storage in warehouses and departments are stipulated, as well as energy companies, they must have a license for the storage of oil and petroleum products,” said Mihajlovic.

“The establishment of a storage body is implied, and it is stipulated that mandatory reserves for storage in warehouses and authorities and energy companies must have a license for the storage of oil and petroleum products,” said Mihajlovic.

Directorate for Goods Reserves has about 180,000 cubic meters of space for the storage of oil and oil products, and JP “Transnafta” has 130,000 cubic meters, but that space is not enough, she said, noting that the construction of a new warehouse is possible.

Serbia undertook the formation of reserves of oil and oil products by ratifying the Treaty establishing the Energy Community.

Source; Serbia Energy/MERZ

Download as PDF :

Download PDF