Oil is an international commodity, and the oil markets in the Energy Community are closely intertwined with developments at global level. Due to a high import dependency with a limited number of domestic producers, security of oil supply is of special concern to the Energy Community Contracting Parties. The dependency is aggravated by the lack of interconnections to facilitate oil flows as well as insufficient storage capacities.
By the incorporation of Directive 2009/119/EC into the Energy Community, the Ministerial Council acknowledged that the availability of oil stocks and the safeguarding of energy supply are essential elements of public security. At the same time, the prevailing oil quantities held by the Contracting Parties at present do not satisfy the stockholding obligation under the Directive.
The following pages outline the instruments applied to achieve full implementation of the emergency oil stocks Directive. The section breaks down to Technical Assistance, Study and Events.