International Energy Program
International agreements and security stockpiling of imported fuels play an important role in securing energy supply.
There are two international energy agreements that concern Finland:
- the International Energy Program, IEP, implemented in Finland on 13th December 1991. (Statute Book of Finland 1682/1991, Treaty Series of the Statute Book nr 114)
- EU’s stockpiling obligations (Directive 2009/119/EY imposing an obligation on the Member States of the EEC to maintain minimum stocks of crude oil and/or petroleum products)
The countries bound by the agreements are obliged to maintain stockpiles of oil products and/or crude oil that correspond to 90 days’ net imports. Finland has committed itself to respecting the stockpiling obligations, which are met through obligatory stocks owned by companies, as well as stocks owned by the state.