Poland adopts draft law on appointing strategic reserves agency RARS as institution responsible for gas stocks
Polish government has adopted a draft law on appointing the Government Agency for Strategic Reserves (RARS) as an institution responsible for the creation and maintenance of gas stocks, the government said in a statement. A new way of financing gas stocks will be introduced, with no impact on gas prices for households.
The Council of Ministers has adopted a draft law amending the act on stocks of crude oil, petroleum products and natural gas and the principles of proceeding in situations of threat to the state's fuel security and disturbances on the oil market and some other acts, submitted by the minister of industry.
It concerns the designation of the institution responsible for the creation and maintenance of gas stocks, as well as the manner of their financing. The new solutions adapt Polish law to the provisions of the European Union.
Once the law comes into force, the Government Agency for Strategic Reserves (RARS) will be responsible for creating and maintaining gas reserves. The Agency will buy and sell gas, e.g. through exchanges, tenders or contracts.
A new way of financing gas stocks will also be introduced.
The solution is expected to increase the country's gas security and strengthen competitiveness in the gas market.
"The new regulations will not affect gas prices for households. RARS will play a greater role in the creation and financing of stocks of oil and fuels as well," the statement stressed.
In this respect, the Agency will take over some of the responsibilities for the creation of oil and fuel stocks from producers and traders.
The new regulations are to come into force 14 days after being announced in the Journal of Laws.
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