Availability of strategic security stocks in the EU
17.1.2007
WRITTEN QUESTION E-0192/07
by Romana Jordan Cizelj (PPE‑DE)
to the Commission
Oil stocks management in the EU is currently governed by Council Directive 2006/67/EC[1] of 24 July 2006 (codified version). According to the directive, Member States should hold a minimum of 90 days of oil stocks. EU Member States are free to choose the system they find most suitable for managing their oil security stocks. The stockholding obligations may therefore rest with a state entity, an independent national stockholding agency, and/or industry. The EU recommends an entity system in which the security stocks (ownership) are separated from operational stocks of the industry and so available in a crisis. In a system run by industry there are risks that working stocks are mixed with security stocks. It is also common that stocks held by industry are involved in hedge transactions, financing and/or used as collateral security. Moreover, in order for security stocks to become a credible and effective instrument in times of crisis it is important that gas is included in future security stocks obligations.
Article 3(1) of the Council Directive states that ‘Stocks maintained … shall be fully at the disposal of Member States should difficulties arise in obtaining oil supplies. Member States shall ensure that they have the legal powers to control the use of stocks in such circumstances. At all other times, Member States shall ensure the availability and accessibility of the stocks. They shall establish arrangements allowing for the identification, accounting and control of the stocks’.
How can the Commission ensure full compliance with Article 3(1) of the directive in terms of guaranteeing the availability of security stocks in a crisis situation?
How can the Commission guarantee the availability of security stocks in a system where strategic security stocks are held by industry — considering their limited accessibility as mentioned above — as opposed to a system where security stocks are held by public stockholding bodies?
Is the Commission planning to organise an inventory audit system regarding security stocks reported by the Member States?
Is the Commission planning to set up a security stocks system for gas? What would be the stockholding arrangements and requirements of such a system, taking into account the objective of ensuring full security stock availability and transparency?
- [1] OJ L 217, 8.8.2006, p. 8.
OJ C 293, 05/12/2007