Serbia has the largest fuel reserves in the region, but it also does not fulfill the obligation to have stocks for 90 days of net imports. According to the data Energy communities seen by Biznis.rs editorial staff, current reserves cover 51 days.
- According to data from the Secretariat of the Energy Community, fuel reserves in Serbia cover 51 days of net imports. That is the most of the eight markets in the region, but below the mandatory 90 days.
- None of the eight markets meet 90 days. North Macedonia has 45 days, and Montenegro a little less than 40 percent of the obligation.
- State officials said in March that Serbia has diesel and gasoline reserves for 90 days. The numbers differ because they are calculated differently.
- The data will be published in a separate report next week, and Biznis.rs had an insight into them.
WHAT'S HAPPENING
The Secretariat of the Energy Community checks how much reserves of oil and derivatives are held by the contracting parties. The data show that none of the eight markets have them in 90 days, but Serbia is at the top. Moldova, Albania and Bosnia and Herzegovina have no strategic reserves, and Georgia and Kosovo have neither stocks nor laws.
The Secretariat estimates that fuel continued to arrive in the region during the biggest oil supply shock in more than half a century, after the war in the Middle East, but at a high price and with low reserves.
In Serbia, during that shock, the state made available diesel from state reserves, and when the low water level of the Danube in July reduced imports, it allowed companies to use their mandatory operating reserves.
WHY IS THIS HAPPEN?
The obligation comes from the Energy Community Treaty and the EU directive, according to which reserves must cover 90 days of average net imports or 61 days of consumption, whichever is greater.
Serbia undertook to fulfill this by January 1, 2023 at the latest, and this is one of the conditions for opening Chapter 15 (energy) in the negotiations with the EU.
In March, the state released 40.000 tons of reserves and banned the export of oil and derivatives. For new storage, the Republic Directorate for Commodity Reserves has announced a tender for the project of eight new tanks in Smederevo.
WHAT HAS BEEN CONFIRMED SO FAR?
The data on 51 days comes from an unpublished report seen by Biznis.rs, so we could not verify it.
In March, state officials talked about reserves for 90 days of diesel and gasoline, and the Minister of Energy about 89 days of diesel and 83 days of gasoline, but measured in days of consumption. It is not known how much of the reserves have been spent since then.
WHAT IS IMPORTANT TO KNOW
When it comes to citizens, reserves decide whether there will be fuel shortages and sudden price increases in crisis situations.
Transporters, farmers and companies depend on diesel, and the stockpiles absorb disruptions in imports, such as a drop in the Danube's water level. Building warehouses and buying reserves require money, and reserves are also paid for by fuel taxes, which affects the state budget. As for Serbia's path to the EU, the unfulfilled obligation slows down Chapter 15.
Election time! And someone has to report to you independently. That's why it's in October annual subscription the digital edition of "Vremena" even 2.500 dinars cheaper. Choose now!
