Energy law - strategic reserves

The Energy Act was amended several times since 1998 to adjust the energy security needs of Latvia. The Energy Law was notably amended in 2010 to implement the European Union’s Directive 2009/119/EC and lays out a specific legal framework concerning the protection of Latvia’s energy supply by stockholding oil and other petroleum products. It was last amended in 2022 to expand the scope to natural gas, prohibiting the import of gas from the Russian Federation and ensure that no later than 31 August of each year, the amount of natural gas required for consumption of the following year is stored. Since 2024, the limited liability company “Public Asset Manager Possessor” is managing safety stocks, and will purchase oil as state property until 2029. Aside from creating a strategic natural gas reserves, there is also safety reserves of energy supply to ensure continuous supply of natural gas.

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