Energy security boost: Moldova sets 2030 petroleum reserve goal
The Republic of Moldova plans to gradually implement, by 2030, a requirement to maintain petroleum product reserves equivalent to 90 days of net average daily imports.
This announcement was made by Constantin Borosan, State Secretary at the Ministry of Energy, during a simulation exercise on managing a regional petroleum crisis, organized in Paris by the International Energy Agency.
The reserves will be managed under a hybrid model, with 50% of the storage requirement assigned to a state institution under the Ministry of Energy and the other 50% to importers. According to the draft law developed by the Ministry of Energy, up to 60% of the petroleum reserves are to be stored within Moldova, with the remainder potentially stored in the importing country.
For the first time, the Republic of Moldova was invited to participate in this exercise, despite not being a member of the International Energy Agency. This invitation followed the Ministry of Energy’s signing of a cooperation memorandum with the agency in March 2024.
Translation by Iurie Tataru
