TIRANA, Sept. 20 /ATA/ – Albania plans to establish a national system of strategic crude oil and petroleum product reserves to strengthen energy security and ensure supply during crises or unexpected disruptions.
Under a proposed draft law, the country will gradually build reserves equivalent to at least 90 days of average daily net imports or 61 days of average daily domestic consumption, whichever is higher.
The reserves will be managed by a dedicated National Oil Security Reserve Authority, responsible for their procurement, storage, administration and release when required. The legislation also allows reserves to be stored by economic operators under service agreements.
The system will be financed in part through a levy on excise-taxed hydrocarbon products, including aviation fuel, with the rate to be determined by the Council of Ministers.
In the event of supply disruptions or significant increases in international prices, the government will be able to release reserves under a National Response Plan that will set out the conditions and procedures for their use and replenishment.
The draft law is intended to align Albania’s energy security framework with European Union standards and Energy Community obligations. It also provides for administrative fines ranging from 2 million to 10 million lek for violations, with repeated breaches potentially leading to the temporary suspension of activities.
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