Erdöl-Lagergesellschaft m.b.H. (ELG) is Austria’s central stockholding entity. As such it plays a major part in fulfilling the country’s 90-day oil stockholding commitment – and thus maintaining energy supply security during emergencies.
The legal basis of the company’s activities is the Erdölbevorratungsgesetz 2012 [Oil Stockholding Act 2012]which requires the holding of minimum stocks corresponding to 90 days’ average net imports. This is achieved by obliging importers of crude oil, petroleum products, bio feedstocks and biofuels to hold stocks equivalent to 25% of their imports during the previous year as compulsory emergency reserves (CERs), ng on April 1 of each year.