Meeting for the model of emergency stocks in Ukraine

On May 26, 2016 meeting organized by the Ukrainian State Reserve Agency was held in Kiev. The object of discussion was the setting of the system formaintaining of emergency stocks of oil and petroleum products in Ukraine in accordance with the requirements of EU legislation. In connection with efforts for integrating into the European Union, Ukraine undertook to build up the emergency stocks in accordance with European legislation at the level of 90 days of average daily imports until 2023. The first step towards this purpose must be choice of the most suitable model of maintaining of emergency stocks and implementing of related legislation.

At the meeting in Kiev,the representatives of the Ukrainian State Reserve Agency, as well as representatives of other competent government authorities, oil companies and banks were present. Exept for local representatives, also the representatives of the International Energy Agency (IEA) and the Energy community were invited to present the various models of the maintaining emergency stocks in European Union and the IEAcountries. The representative of the Emergency Oil Stock Agency (EOSA) was invited to present the experiences of the Slovak Republic with transformation of maintaining emergency stocks and with the establishment of the agency model in 2013.

Ukrainian officials announced that the new system formaintaining of emergency stocks in Ukraine will probably be inspired by the Slovak agency model, therefore the information presented by the representative of the EOSA Agency on the slovak model and the process of transformation will be very valuable in the decision making process on the concrete ukrainian model. At the same time Ukrainian officials have expressed interest in closer relations and cooperation of Ukraine with Slovak Republic in the collective energy security in our region.