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Emergency Oil Stocks in the Energy Community Level

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Emergency Oil Stocks in the Energy Community Level Emergency Oil Stocks in the Energy Community Level Petroleum Development Consultant Limited, Energetski Institut Hrvoje Požar April 2011 Oil www.energy-community.org This report was financed by the Energy Community. Emergency Oil Stocks in the Energy Community Level Final Report Energy Community 26 April 2011 Contents 1. Executive Summary .......................................................................... 1 2. Introduction ....................................................................................... 4 3. Methodologies ................................................................................... 5 3.1. Methodology for Energy Demand Forecasting .................................. 5 3.2. Stock Holding Obligation Calculation Methodology ........................... 8 3.3. Data Reporting Requirements ......................................................... 10 3.4. Data Collection and Processing ....................................................... 10 3.5. Facilities Capital and Operating Cost Estimation ............................. 14 3.6. Forward Crude Oil & Product Pricing ............................................... 15 3.7. Obligation Calculation Model Construction ...................................... 19 4. The Role of the Central Stockholding Agency ................................. 20 4.1. CSE Formation and Constitution ..................................................... 20 4.1.1. Hungary .................................................................................... 20 4.1.2. Czech Republic ........................................................................ 22 4.2. CSE Operation ................................................................................ 23 4.3. CSE Financing ................................................................................. 24 5. Albania ............................................................................................ 25 5.1. Crude Oil and Oil Product Supply and Demand .............................. 25 5.2. Emergency Oil Stock Obligations .................................................... 29 5.3. Current Oil Infrastructure ................................................................. 32 5.4. Emergency Oil Stock Current Situation ........................................... 35 5.5. Additional required stockholding capacities ..................................... 36 5.6. Legal Review ................................................................................... 36 5.7. Financial Aspects of Oil Stocks ....................................................... 37 5.8. Organizational Aspects of the Stockholding System ....................... 39 5.9. Intervention in Case of Supply Disruption ........................................ 40 5.10. Required Legislative Changes ......................................................... 40 5.11. Road Map ........................................................................................ 41 6. Bosnia and Herzegovina ................................................................. 44 6.1. Crude Oil and Oil Product Supply and Demand .............................. 44 6.2. Emergency Oil Stock Obligation ...................................................... 47 6.3. Current Oil Infrastructure ................................................................. 49 6.4. Emergency Oil Stock Current Situation ........................................... 52 6.5. Additional required stockholding capacities ..................................... 52 6.6. Legal Review ................................................................................... 52 6.7. Financial Aspects of Oil Stocks ....................................................... 53 6.8. Organizational Aspects of the Stockholding System ....................... 55 6.9. Intervention in Case of Supply Disruption ........................................ 55 6.10. Required Legislative Changes ......................................................... 55 6.11. Road Map ........................................................................................ 56 7. Croatia ............................................................................................ 58 7.1. Crude Oil and Oil Product Supply and Demand .............................. 58 7.2. Emergency Oil Stock Obligation ...................................................... 62 7.3. Current Oil Infrastructure ................................................................. 64 Emergency Oil Stocks in the Energy Community Level i 26 April 2011 7.4. Emergency Oil Stock Current Situation ........................................... 68 7.5. Additional Required Stockholding Capacities .................................. 68 7.6. Financial Aspects of Oil Stocks ....................................................... 69 7.7. Legal Review ................................................................................... 69 7.8. Organizational Aspects of the Stockholding System ....................... 70 7.9. Intervention in Case of Supply Disruption ........................................ 71 7.10. Required Legislative Changes ......................................................... 72 7.11. Road Map ........................................................................................ 72 8. FYR Macedonia .............................................................................. 74 8.1. Crude Oil and Oil Product Supply and Demand .............................. 74 8.2. Emergency Oil Stock Obligation ...................................................... 77 8.3. Current Oil Infrastructure ................................................................. 80 8.4. Emergency Oil Stock Current Situation ........................................... 83 8.5. Additional Required Stockholding Capacities .................................. 84 8.6. Legal Review ................................................................................... 85 8.7. Financial Aspects of Oil Stocks ....................................................... 86 8.8. Organizational Aspects of the Stockholding System ....................... 88 8.9. Intervention in Case of Supply Disruption ........................................ 89 8.10. Required Legislative Changes ......................................................... 90 8.11. Road Map ........................................................................................ 90 9. Moldova .......................................................................................... 93 9.1. Crude Oil and Oil Product Supply and Demand .............................. 93 9.2. Emergency Oil Stock Obligation ...................................................... 95 9.3. Current Oil Infrastructure ................................................................. 98 9.4. Emergency Oil Stock Current Situation ........................................... 99 9.5. Additional Required Stockholding Capacities .................................. 99 9.6. Legal Review ................................................................................... 99 9.7. Financial Aspects of Oil Stocks ....................................................... 99 9.8. Organizational Aspects of the Stockholding System ..................... 101 9.9. Intervention in Case of Supply Disruption ...................................... 101 9.10. Required Legislative Changes ....................................................... 101 9.11. Road Map ...................................................................................... 101 10. Montenegro ................................................................................... 103 10.1. Crude Oil and Oil Product Supply and Demand ............................ 103 10.2. Emergency Oil Stock Obligation .................................................... 105 10.3. Current Oil Infrastructure ............................................................... 107 10.4. Emergency Oil Stock Current Situation ......................................... 108 10.5. Additional Required Stockholding Capacities ................................ 108 10.6. Legal Review ................................................................................. 109 10.7. Financial Aspects of Oil Stocks ..................................................... 109 10.8. Organizational Aspects of the Stockholding System ..................... 111 10.9. Intervention in Case of Supply Disruption ...................................... 112 10.10. Required Legislative Changes ....................................................... 112 10.11. Road Map ...................................................................................... 112 11. Serbia ............................................................................................ 114 11.1. Crude Oil and Oil Product Supply and Demand ............................ 114 Emergency Oil Stocks in the Energy Community Level ii 26 April 2011 11.2. Emergency Oil Stock Obligation .................................................... 118 11.3. Current Oil Infrastructure ............................................................... 120 11.4. Emergency Oil Stock Current Situation ......................................... 123 11.5. Additional Required Stockholding Capacities ................................ 123 11.6. Legal Review ................................................................................. 124 11.7. Financial Aspects of Oil Stocks ..................................................... 124 11.8. Organizational Aspects of the Stockholding System
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