An energy crisis in supplies of petroleum products is declared in Latvia until 31 December 2022, according to the order of the Cabinet of Ministers published in the Latvian Herald.
This order details the State Energy Crisis Centre is picked as the institution responsible for coordinating activities during the crisis with supplies of petroleum products.
The order also mentions that it is permitted to release reserves of petroleum products on the market. Holders of petroleum reserves in Latvia are obligated to prepare petroleum products for distribution. At the same time, it is decided that licensed petroleum product distributors and critical service providers are authorised to turn to the State Construction Control Bureau of Latvia (BVKB) with a request for permission to procure petroleum products from reserves if a shortage of petroleum products is detected on the market.
Latvian State Police and State Revenue Service will monitor compliance with the order, ensuring petroleum products are not taken from Latvia and are issued in accordance with decisions made by BVKB.
On Thursday, 14 April, Latvia’s government agreed to permit retail traders and critical service providers procure fuel from state reserves if the situation becomes critical.
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Minister of Economics Jānis Vitenbergs said this decision by the government is intended as a solution if the fuel market experiences shocks or interruptions. Currently Latvia has enough petroleum reserves to last 90 days.
At the same time, the minister said the situation on the fuel market is stable and shows no signs of interruptions of supplies. Nevertheless, the risk remains under the current geopolitical situation.
Latvia declares energy crisis in supplies of petroleum products
