Europe’s energy security remains stable despite sanctions on Lukoil
The European Commission is assessing the potential effects of the United States' sanctions on the Russian company Lukoil. These measures could impact oil supplies to several countries in the region, including the Republic of Moldova. European officials indicate that there are no immediate threats to energy security at this time. However, they stress the importance of closely monitoring the situation, especially with the cold season approaching.
“So far, we have not received any indications of an immediate impact on the security of supply, particularly concerning member states. You asked about the Republic of Moldova, but regarding member states, we have a regulation that requires them to hold emergency oil reserves for 90 days. Therefore, the next meeting of the Oil Coordination Group will certainly review the latest developments, but for now, we have not received any information indicating issues with security of supply," said Anna-Kaisa Itkonen, the European Commission’s spokesperson for energy issues, on November 10.
Regarding a potential support package for the Republic of Moldova from the European Union ahead of the cold season, Anna-Kaisa emphasized that these initiatives are being discussed with colleagues in the team responsible for EU enlargement.
“We have a winter preparation mechanism, similar to previous years, for both Ukraine and Moldova, but this is currently being worked on,” added Anna-Kaisa Itkonen.
Concerning the sanctions targeting the Russian company Lukoil, the European Commission representative noted that the institution is in constant contact with the affected Member States and partner countries, including the Republic of Moldova, Bulgaria, and Armenia. However, she emphasized that, at present, Lukoil is not subject to European Union sanctions, and all transactions must comply solely with the applicable international regulations.
Moldova authorities want to buy Lukoil assets at the airport
Moldova could be affected by sanctions imposed by the US and the UK on Lukoil, which will come into force on November 21, the authorities in Chisinau admit. The most affected could be the "Eugen Doga" International Airport - Chisinau, where Lukoil is the only supplier of gasoline, diesel and kerosene.
The Minister of Energy, Dorin Junghietu, recently announced that Moldova is holding talks with Bulgaria and Romania, including with representatives of the Rompetrol company, to ensure fuel supplies for aircraft operating from Chisinau airport.
Lukoil has already attempted to sell the airport assets and infrastructure it owns. Still, the Council for the Examination of Investments of Importance for State Security rejected the transaction, citing national security concerns.
The Council has submitted an offer to purchase the Lukoil depot at the airport, so that the state can take over the company's infrastructure and resources. The deadline for this offer is November 17, given that Lukoil will be unable to operate from November 21.
The company has not yet provided the authorities with a response to the submitted offer.
We remind you that "Lukoil-Moldova" holds approximately 12% of the retail market and controls around 40% of diesel imports into the Republic of Moldova.
