The relevance of the net imports of hydrocarbons in the Spanish energy balance makes any difficulty in the supply, even momentary, to derive in serious consequences for the activity of our economy. In this respect, the international markets for petroleum and natural gas products should be considered to be characterised by an imperfect supply of raw materials, concentrated in a significant part, in geographical areas outside the Community. influence of Western economies.

In these circumstances, the State must ensure the security and continuity of the supply of hydrocarbons, on the basis of the powers contained in the Constitution regarding energy planning, a circumstance which justifies the obligation to maintain minimum stocks of security of petroleum products and natural gas, as well as the requirements of adequate diversification of gas supplies.

As far as the petroleum products are concerned, measures of this nature have been applied by Spain since 1972, when in the framework of the Petroleum Monopoly the obligation of maintenance of some of them was established. Minimum stocks of sufficient security, endorsed in subsequent provisions in 1985 and 1992. In addition, Spain is a signatory to the Charter of the International Energy Agency, a multilateral consultative body of the OECD, which incorporates a homogeneous system of co-responsibility for all signatory countries, which are obliged to maintenance and availability of minimum security stocks of crude oil and petroleum products. On the other hand, as a member of the European Union, our country is obliged to comply with the rules laid down in Community legislation (Directives 68 /414/EEC of the European Parliament and of the Council of 20 December 1968). 98 /93/EC of the European Parliament and of the Council of 14 December 1998). In both cases, the obligations consist of the maintenance of a minimum level of 90 days of net imports or consumption of petroleum products.

The growing importance of natural gas within the Spanish energy supply advises the introduction of measures for the security of supply of this fuel. To this end, the obligation to maintain minimum stocks of gas security is established and includes the need for diversification of supplies from outside.

In order to comply with the above mentioned objectives, Law 34/1998 of 7 October of the Hydrocarbons Sector has established in Article 50 that any operator authorized to distribute wholesale products (a) Oil and any undertaking developing a retail distribution activity of products not purchased from such operators shall at all times maintain minimum stocks of petroleum product safety in the quantity, form and geographical location to be determined by the Government, up to a maximum of 120 days its annual sales, extending the same obligation to the consumers in respect of the part of the product not acquired to the operators regulated in this law, regulated matter until now in the Royal Decree 2111/1984, of October 28. This Article also lays down the obligation, for wholesale distributors of liquefied petroleum gases, as well as for traders or consumers who do not purchase the product from authorized distributors, for maintenance purposes. of minimum stocks of liquefied petroleum gas safety up to a maximum of 30 days of their annual sales or consumption. Finally, Article 50 cited lays down the powers of the various administrations in the field of inspection of minimum safety stocks.

In Article 51 of Law 34/1998 of 7 October, the government delegates the determination of the minimum stock of security stocks of petroleum products, excluding liquefied petroleum gases, as strategic stocks.

The obligation to maintain minimum stocks of natural gas security for carriers incorporating gas into the system is regulated in Article 98 of Law 34/1998 of 7 October, in 35 days of their sales of a natural gas. firm to distributors for the supply to customers under tariff arrangements, extending that obligation to marketers and consumers who make use of the right of access and are not supplied with authorised marketers.

In this article, the manner of compliance with this obligation is also regulated.

The diversification of natural gas supplies is regulated in Article 99 of Law 34/1998 of 7 October, in relation to carriers that incorporate gas into the system and to the marketers, which are located in the The Commission has also asked the Commission to make a statement on the situation in the country, which has been forced to diversify its supplies when, in the sum of all of them, the proportion of those from The Ministry of Industry, Tourism and Trade is also empowered to regulate this obligation in the case of consumers. In any event, this obligation is waived for gas purchased for the purpose of servicing the consumption of facilities with alternative supplies guaranteed from other fuels.

On the other hand, the Royal Decree Law 6/2000 of 23 June, of urgent measures to intensify competition in markets for goods and services, amends Article 100 of Law 34/1998 of 7 October, allocating the and control of the minimum security stocks and the diversification of supplies of natural gas to the Corporation of Strategic Reserves of Petroleum Products, in cases that this competence corresponds to the General Administration of the Status.

Title I of this royal decree aims to develop the content of Articles 50, 51, 53, 98 and 100 of Law 34/1998 of 7 October of the Hydrocarbons Sector, establishing aspects relating to the definition of subject to the obligation to maintain minimum stocks of oil security, to the content of the obligation, the quantity, form and location of these stocks, the information obligations of the different together with the same aspects relating to the diversification of gas supplies natural. Finally, the administrative powers relating to the inspection and control of these obligations are regulated.

In this same title, the power to open sanctioning files by the competent administrations is also collected and their processing is regulated.

Article 52 of Law 34/1998 of 7 October concerning the Corporation of Strategic Reserves of Petroleum Products, is developed in Title II of this royal decree, establishing its legal nature, object, the legal system, the procedures for the acquisition, maintenance and sale of strategic stocks, their economic arrangements, as well as the development of the inspection powers of the latter. All the activities of the Corporation will be determined by this regulation and by the statutes that are approved as an annex to this royal decree, which provides it with the most economical and effective organization possible.

Title III is dedicated to the definition of the mechanisms for the application of minimum stocks of hydrocarbon security, including strategic ones, in cases of supply, indicating those measures restriction of the energy demand that the government is authorized to establish in emergency situations. In this particular case, the application of a remuneration scheme to those activities which were affected by the adoption of those measures is established, in any event by ensuring a balanced distribution of the costs, all in the form of Articles 49 and 101 of Law 34/1998 of 7 October.

According to the provisions of the 11th additional provision of Law 34/1998, of 7 October, of the Hydrocarbons Sector, the National Energy Commission has issued the mandatory report on this royal decree.

In its virtue, on the proposal of the Minister of Industry, Tourism and Trade, with the prior approval of the Minister of Public Administrations, in agreement with the Council of State and after deliberation of the Council of Ministers in its July 23, 2004 meeting,

D I S P O N G O:

TITLE I

Minimum hydrocarbon safety stocks and natural gas supply diversification

CHAPTER I

General provisions

Article 1. Object.

This royal decree aims to develop the provisions of Law 34/1998, of 7 October, of the Hydrocarbons Sector, in relation to the obligation to maintain minimum stocks of hydrocarbon safety, by of the various subjects involved in the oil and natural gas sectors and with the obligation to diversify the supply of natural gas.

It also regulates the operation of the Strategic Petroleum Reserve Corporation and the situations of hydrocarbon supply shortages.

Article 2. Required minimum security stock maintenance.

1. In accordance with the provisions of Article 50 of Law 34/1998 of 7 October of the Hydrocarbons Sector, the obligation to maintain minimum stocks which must be maintained at all times by the persons involved in the sector of the oil, referred to in Article 7 of this royal decree, is fixed in 90 days of its sales or consumption in the previous 12 months, fixing for its computation a period of three months between the completion of the 12 months considered and the date of accounting of stocks.

In the case of liquefied petroleum gases, these minimum stocks are fixed in 20 days of sales or consumption, in the previous 12 months, with a three-month period between the end of the 12 months. months considered and the date of accounting for stocks.

2. In accordance with Article 98 of Law 34/1998 of 7 October, the obligation to maintain minimum stocks to be maintained by the persons involved in the natural gas sector is fixed at 35 days of their sales or consumption. of a firm character, in the preceding 12 months, for a period of three months between the termination of the 12 months considered and the date of accounting of the stocks.

Article 3. Obligation to diversify the supply of natural gas.

1. Carriers and marketers who incorporate natural gas into the national gas system will have to diversify their supplies so that, annually, the volume of those coming from the main supplier country of the Spanish market, according to the information published by the Strategic Petroleum Reserve Corporation pursuant to Article 21 (2) is less than 60 percent of the total of its supplies.

2. Consumers who, under Article 61 of Law 34/1998 of 7 October, acquire gas directly in the main supplier country of the Spanish gas system in quantities exceeding 10 GWh per year, will be obliged to diversify in the terms set out in the previous paragraph.

Article 4. Administrative powers.

Without prejudice to the functions attributed to the Corporation of Strategic Reserves of Petroleum Products in Articles 52 and 100 of Law 34/1998 of 7 October, and in Article 35 of this royal decree, the (i) administrative measures relating to minimum security stocks and the diversification of natural gas supplies are:

(a) According to Article 50 (3) of Law 34/1998 of 7 October 1998, the inspection of compliance with the obligation to maintain minimum stocks of petroleum product safety, including gases Liquefied petroleum, it will be up to the Ministry of Industry, Tourism and Commerce when the obligated subject is a wholesale operator.

This inspection will be carried out by the Autonomous Administrations when the obligation affects retail distributors or consumers.

In any event, the state enforcement competition in respect of the inspection shall be extended to retail distributors and consumers in respect of those activities the exercise of which exceeds the territorial scope of the autonomous community where they are located.

(b) According to Article 3 of Law 34/1998 of 7 October, the inspection of compliance with the requirements and conditions for the maintenance of minimum stocks of natural gas security shall be carried out by the Ministry. Industry, Tourism and Trade when the subject is a carrier, a marketer or a consumer whose scope of action is transferred from an autonomous community.

This inspection will be carried out by the Autonomous Administrations when the obligation affects carriers, marketers or consumers who exercise their activity only in the territorial scope of an autonomous community.

(c) Likewise, as provided for in Article 100 of Law 34/1998, of 7 October, in cases where this competence corresponds to the General Administration of the State, the inspection and control of the minimum stocks of Security and diversification will be realized by the Corporation of Strategic Petroleum Products Reserves.

d) For the purposes of carrying out the tasks assigned to them in the field of inspection of compliance with the obligation to maintain minimum security stocks, the Autonomous Administrations may establish collaboration with the Petroleum Products Strategic Reserves Corporation.

e) The relevant public inspection authority and the Petroleum Products Strategic Reserves Corporation shall establish the appropriate information communication channels that are necessary for the best development of the respective competences and functions.

Article 5. Information.

1. The persons obliged to maintain minimum security stocks of petroleum products, including liquefied petroleum gases, as provided for in Article 50 of Law 34/1998 of 7 October, shall provide the Ministry of Industry, Tourism and Commerce, the National Energy Commission and the Corporation of Strategic Reserves of Petroleum Products information, in the form and with the periodicity to be determined, that allows to obtain an exact balance on the movements of the products of each subject, inputs of crude oil and/or petroleum products by import, intra-Community trade or domestic purchase, quantities and destinations of sales to the internal market by distribution channels and consumer sectors, exports of petroleum products, other outlets, levels and changes in stocks, and any other deemed necessary for the same purposes.

2. The subjects required to maintain minimum security stocks as set out in Article 50 of Law 34/1998 of 7 October, must send to the Corporation of Strategic Reserves of Petroleum Products, within the first five months of each year, an accounting statement relating to the stocks, purchases and sales of the previous financial year, expressed in physical units, accompanied by an audit report on that status, issued by the auditor of the subject. The said accounting statement shall consist of the following elements:

a) Stocks as of 1 January, for raw materials and products.

b) Monthly purchases, by raw materials and products.

c) Monthly sales, by raw materials and products.

d) Stocks at December 31, for raw materials and products.

This accounting statement of stocks, purchases and sales shall be signed by the same body of the institution which makes the annual accounts, in respect of which it shall be complementary, and shall be sent, together with the corresponding audit report, to the Petroleum Products Strategic Reserves Corporation in any case, even when no sales or acquisitions have occurred in the corresponding annual period.

3. The subjects required to maintain minimum stocks of natural gas security as set out in Article 98 of Law 34/1998 of 7 October, shall provide the Ministry of Industry, Tourism and Trade and the Corporation of Reserves with the Strategic of Petroleum Products, in the form and with the periodicity to be determined, all the information necessary to credit the fulfilment of the corresponding obligations. In particular, the Directorate General for Energy and Mines Policy, Ministry of Industry, Tourism and Trade, the National Energy Commission and the Corporation for Strategic Reserves of Petroleum Products should be provided with information, in the form and with the periodicity to be determined by the latter, which allows to obtain an accurate assessment of the movements of natural gas of each subject, import gas entries, intra-Community trade, national purchase, quantities and destinations of sales to the internal market by sectors of consumption, exports, other outlets, levels and variation of stocks and any other stocks deemed necessary for the same purposes.

4. All this information, as well as the information received by the Strategic Petroleum Reserve Corporation that may contain any relevant factors regarding the commercial position of the subject, will be considered strictly. confidential in terms of the individual data per company.

5. Irrespective of the above, those subject to the maintenance of minimum security stocks whose inspection competence corresponds to the autonomous communities shall send the documentation in question. in the preceding paragraphs, in addition, to the competent bodies of the Autonomous Communities.

6. The subjects forced to diversify in natural gas supplies must communicate to the General Directorate of Energy Policy and Mines, the Ministry of Industry, Tourism and Trade, the National Energy Commission and the Petroleum Products Strategic Reserves Corporation, as much information is required for the control of compliance with the diversification obligation. To this end, each time they subscribe to a new natural gas supply contract, they shall report, inter alia, the following:

a) Quantity of the gas being the subject of the new provisioning and the intended temporary scheduling of deliveries.

b) Country or countries of origin of the new provisioning.

c) Mode in which the total portfolio of supplies of the subject in question remains after the new contract.

Article 6. Sanctioning procedure.

1. The system of penalties applicable to minimum stocks of security of petroleum products, natural gas and diversification of natural gas supply shall be that laid down in Title VI of Law 34/1998 of 7 October of the Hydrocarbons.

2. The competent public administration may provide for the initiation of an ex officio sanctioning file or at the request of the Strategic Petroleum Reserve Corporation.

CHAPTER II

Minimum stocks of petroleum product safety and liquefied petroleum gases

Article 7. Subject to the maintenance of minimum safety stocks of liquid hydrocarbons.

In accordance with Article 50 of Law 34/1998 of 7 October of the Hydrocarbons Sector, they are obliged to maintain, at all times, minimum stocks of security of petroleum products in the amount of determined in Article 2.1 of this royal decree:

(a) The operators authorised to distribute wholesale oil products, regulated by Article 42 of Law 34/1998 of 7 October, for their annual sales on the domestic market, excluding sales to other operators wholesale.

(b) Companies that develop a retail distribution of fuel and petroleum fuels, as regulated in Article 43 of Law 34/1998 of 7 October, on the part of their annual sales on the market national not supplied by the wholesale operators, as regulated in Article 42 of that law.

(c) Consumers of fuels and petroleum fuels, in the part of their annual consumption not provided by wholesale operators regulated by Article 42 of Law 34/1998 of 7 October, or by undertakings which develop an activity of retail distribution of petroleum products, as regulated in Article 43 of that law.

Article 8. Subject to the maintenance of minimum safety stocks of liquefied petroleum gases.

According to the provisions of Article 50 of Law 34/1998 of 7 October of the Hydrocarbons Sector, they are obliged to maintain, at all times, minimum safety stocks of liquefied petroleum gases in the amount determined in Article 2.1 of this royal decree:

(a) Wholesale operators with activity authorisation as regulated in Article 45 of Law 34/1998 of 7 October for their annual sales on the domestic market, excluding sales to other operators by major.

(b) Companies that develop a retail activity of liquefied petroleum gas in bulk and retail sale of liquefied petroleum gases, as packaged in Articles 46 and 47 of the Law 34/1998 of 7 October 1998 on the part of its annual sales on the domestic market not provided by the wholesale operators, regulated in Article 45 of that law.

(c) Consumers of liquefied petroleum gases on the part of their annual consumption not provided by the wholesale operators covered by Article 45 of Law 34/1998 of 7 October, or by companies developing a the distribution and marketing of liquefied petroleum gases, as regulated in Articles 46 and 47 of that Law.

Article 9. Petroleum products subject to the obligation to maintain minimum safety stocks.

1. The obligation to maintain minimum stocks of petroleum product safety, in the quantities referred to in Article 2, is specified in the following product groups:

1. º Liquefied Petroleum Gases.

2. Auto and aviation gasolines.

3. Automotive Gasoils, other gas oils, aviation kerosene and other kerosene.

4. Fuelolees.

They shall also be considered as products for the purpose of maintaining minimum safety stocks, all fuels and liquid or gaseous fuels not expressly provided for in the preceding paragraphs. groups, provided that they are intended for uses identical to those collected there.

2. Minimum security stocks of petroleum products, other than those for liquefied petroleum gases, may be maintained in the form of crude oil, raw materials or semi-refined products. The equivalence of crude, raw material and semi-refined to each product category shall be made, at the choice of the subject, in accordance with any of the following alternative procedures:

(a) According to the proportions and quantities corresponding to each category of products produced during the calendar year preceding the refinery or set of refineries in each business group; or

(b) Taking into account the ratio of the total quantity of products covered by the minimum stock maintenance obligation manufactured during the preceding calendar year at the refinery or set of refineries in each business group and the total amount of crude used during that year; or

c) According to the production schedules of the refinery or set of refineries in each business group for the current year.

In these three procedures, the above should not apply to more than 40 percent of the total obligation for the second and third groups (gasoline and middle distillates), nor to more than 50 percent of the fourth group. (fueloils).

3. For the purposes of calculating the minimum security stocks to be used for compliance with the obligation laid down in the preceding Articles, stocks in the form of crude oil, raw materials and semi-refined products shall be They will be counted net of their content in naphthas, so they will be subject to a maximum reduction of four percent on the total stock. Only 90% of the stocks in each product group and crude and semi-refined products may be counted as minimum security stocks.

4. The minimum safety stocks of liquefied petroleum gases may not be maintained in the form of crude oil or semi-refined products.

5. The Directorate-General for Energy Policy and Mines, of the Ministry of Industry, Tourism and Trade, is empowered to establish or modify, with the necessary periodicity and when technical reasons or international commitments so advise or on the basis of a reasoned request from the undertaking holding companies concerned, the value of the coefficients of equivalence and the percentages to be calculated in paragraphs 2 and 3 above.

Article 10. Accounting for minimum security stocks of petroleum products, including liquefied petroleum gases.

1. In compliance with the obligation of minimum security stocks of petroleum products, such quantities may be computed as such that, being the property of the subject or being at full disposal under contracts of lease, are intended for consumption on national territory.

For the purposes of calculating minimum security stocks, they will have this consideration:

(a) Those contained on board oil tankers, including butaners, which are in port pending discharge, once the port formalities have been completed.

b) Stored in the download ports.

c) Those contained in the deposits and spheres of the refineries.

d) Those contained in deposits at the entrance of the pipelines.

e) Existing in the deposits and spheres of operators authorised for wholesale distribution, in the storage or import companies, and in those of the retail dealers and distributors.

f) The existing ones in the deposits of the great consumers. For these purposes, a large consumer shall be understood to consume more than 10,000 metric tons per year of petroleum products or 500 metric tons per year in the case of liquefied petroleum gases.

(g) Existing barges and ships in cabotage traffic during transport within national borders, provided that the Administration can exercise its control and dispose of them without delay.

h) Crude oil or petroleum products stored in an underground storage exploitation concession.

In any case, the facilities in which petroleum products are stored, which can be used for the purposes of minimum security stocks, must be included in the corresponding public administration records. competent.

2. Cannot be counted as minimum security stocks:

a) The crude oil reserves that are in the source warehouse fields.

(b) The quantities of products stored in the bodegas of the vessels and intended for maritime navigation.

(c) The quantities of crude or products contained in the pipeline and refinery treatment facilities.

(d) Products which are in transit on a tanker or a tanker, or within the pipeline, unless they are in transit from a Member State of the European Union in which they were stored; by virtue of an intergovernmental agreement adopted in accordance with Article 11.

e) The quantities of products found in the facilities for the supply of fuels and/or liquid fuels to vehicles (service stations) or in the power of small consumers.

f) Products belonging to the Armed Forces or affected by national defense.

3. In any event, stocks must be held in Spanish territory in order to be counted as minimum security stocks, except as provided for in Article 11.

4. Minimum safety stocks must be stored in any of the systems described in paragraph 1 of this Article and in such a way that they can be taken on a continuous basis over a period of 90 days in the case of products. liquid and 20-day oil in the case of liquefied petroleum gases.

Article 11. Minimum stocks of security of petroleum products outside the Spanish territory.

The Ministry of Industry, Tourism and Trade is empowered to authorize compliance with the obligation to maintain minimum stocks, including strategic ones, of petroleum products to the obligated and to the Corporation of Strategic Petroleum Reserves, if any, with a product that is stored on its own in another Member State of the European Union, provided that, as a precondition, there is an intergovernmental agreement with State, which ensures that the conditions of competition are maintained and ensures availability of stocks for the purposes referred to in Article 49 of Law 34/1998 of 7 October, and provided that it does not prejudice the security of domestic supply.

Article 12. Start of activity.

In the case where an obligor initiates his or her activity or has not consumed or made any sale of petroleum products in the preceding year, the means of sale or consumption according to which he or she must comply with its obligations on minimum security stocks, for the first year, to be replaced by a reasoned estimate of sales or consumption on a proposal from the subject, which must be approved by the Directorate-General for Energy Policy and Mines, Ministry of Industry, Tourism and Trade. This estimate shall be checked and revised month by month by the Directorate-General for the purpose of updating the scope of the obligation to maintain the minimum stock of security of the subject.

Article 13. Criteria for determining the content of the obligation.

1. For the purposes of determining the content of the minimum security stock maintenance obligation under Article 2, no sales consideration shall be taken between operators.

Exports and outputs of products destined for other European Union member countries, supplies of petroleum products to international shipping and any other products should also be excluded. operations equivalent to exports.

The criteria for determining supplies that may be assimilated to export operations shall take into account the need to ensure the supply, procedures established by the International Energy Agency and the Community rules.

2. Business groups in the sector, both operators and distributors, marketers and consumers, will be able to compute their sales or consumption and establish their minimum stocks of petroleum product safety on a consolidated basis. The Directorate-General for Energy Policy and Mines of the Ministry of Industry, Tourism and Trade is empowered to lay down the requirements and set the criteria to be met by the different companies of each business group for the purposes of be able to perform the aforementioned consolidation.

3. The obligation to maintain minimum stocks of fuel and petroleum fuels, including liquefied petroleum gases, by the subjects referred to in paragraphs (b) and (c) of Articles 7 and 8, may be fulfilled by payment of a cash fee to the Strategic Petroleum Reserve Corporation in the form, conditions and cases as determined in Article 25 (3).

Article 14. Strategic stocks.

1. In accordance with Article 51 of Law 34/1998 of 7 October of the 90 days of consumption or sales, which constitute the minimum stocks of security of petroleum products, excluding liquefied petroleum gases, regulated in this royal decree, will have the consideration of strategic stocks a volume equivalent to half of these.

2. There shall be no strategic stocks within the minimum safety stocks corresponding to liquefied petroleum gases.

CHAPTER III

Minimum security stocks and natural gas supply diversification

Article 15. Subjects required to maintain minimum stocks of natural gas safety.

They are required to maintain minimum stocks of natural gas security, as provided for in Article 98 of Law 34/1998 of 7 October:

(a) Carriers incorporating natural gas into the system as regulated in Article 58.a) of Law 34/1998 of 7 October for their firm sales for supply to customers under tariff arrangements.

(b) Natural gas marketers as regulated in Article 58.5 of Law 34/1998 of 7 October for their firm sales.

(c) Consumers who make use of the right of access, in accordance with the provisions of Article 60.3 of Law 34/1998 of 7 October, on the part of their consumptions of a firm character not supplied by the traders authorized.

Article 16. Firm supplies.

For the sole purpose of determining the obligation to maintain minimum stocks and to diversify supplies, the following shall be considered as supplies:

(a) On the market at the rate, supplies shall be deemed to be in firm supply for any tariff fixed by the Administration, which is not expressly defined as interruptible.

b) On the liberalised market, they will have the consideration of a firm supply, regardless of the contractual terms:

1. º Any supply made at a pressure equal to or less than four bars (toll group 3).

2. º Any supply at a point of consumption equal to or less than 10 GWh/year, regardless of the supply pressure.

c) In supplies not included in the preceding paragraphs, it will be necessary to consider an interruptible supply that meets the following requirements:

1. The contract of supply between the marketer and the customer allows the interruption of the part of consumption considered interruptible, by the technical manager of the gas system, with a notice of 24 hours, before emergency situations or gas supply shortages in the Spanish gas system.

2. º That the facilities to which another alternative energy source is provided remain operational.

Marketers will be required to send the interruptible consumer relationship to the Petroleum Products Strategic Reserves Corporation and the system's technical manager, before September 30 each year.

Article 17. Accounting for minimum stocks of natural gas security.

1. In compliance with the obligation of minimum stocks of natural gas security, the quantities of gas may be computed as such that, being the property of the subject or being fully available under lease agreements, are intended for consumption on national territory.

For the purposes of calculating minimum security stocks, they will have this consideration:

A) Stored in the form of liquefied natural gas in regasification plants that are part of the basic system network.

B) Those contained in underground storage in the part that can be extracted from them for placing on the market. In this case, the average stocks held by the obligor shall be computed in the immediately preceding 12 months.

C) The corresponding to deposits of regasification plants that are not part of the core network, in relation to the consumption provided by those.

D) The stocks credited by the carriers to the subjects required as operational storage included in the transport toll.

E) Stocks on board of liquefied natural gas carriers that are in one of the following situations:

1. In port pending discharge, once the port formalities have been completed.

2. In cabotage traffic during transport within national borders.

3. In transit to the Spanish market, provided that they meet the following conditions:

a) That correspond to firm contracts.

b) That they have exited the load port.

(c) Which are included in the corresponding monthly programming and have assigned date and time of the specific download (window) in the regasification plants of the core network, within a period not exceeding three days.

In any case, the facilities in which natural gas is stored for the purposes of minimum security stocks shall be authorised by the competent public administration.

2. Shall not be counted as minimum security stocks:

a) The natural gas reserves that are located in the source warehouse fields.

(b) Those included in pipelines, whether of the basic network, of secondary transport or of integrated distribution in the gas system, except as indicated in paragraph 1 (D).

c) Existing gas in underground storage that cannot be technically extracted under normal operating conditions (buffer gas).

d) Those that may exist belonging to the Armed Forces or affections to the national defense.

3. In any event, stocks must be held in Spanish territory in order to be counted as minimum security stocks, except for those on board of natural gas transport vessels and the provisions of the Article 18.

4. Minimum stocks of natural gas security should be stored in place and so that they can secure supply for 60 days to firm consumers in average weather conditions.

Article 18. Minimum stocks of natural gas security outside Spanish territory.

The Ministry of Industry, Tourism and Trade is empowered to authorize compliance with the obligation to maintain minimum stocks of natural gas to the obligated subject, with a product that is stored by its in another Member State of the European Union, provided that, as a precondition, there is an intergovernmental agreement with that State which ensures the maintenance of the conditions of competition and ensures the availability of stocks for the purposes referred to in Article 101 of Law 34/1998 of 7 October, and provided that (a) prejudice the security of domestic supply.

Article 19. Start of activity.

In the case of carriers, marketers and consumers who initiate their activity, the means of sale under which they are required to meet their minimum security stocks will be replaced, for the First year, by a reasoned estimate of sales, which must be approved by the Directorate General of Energy Policy and Mines, of the Ministry of Industry, Tourism and Commerce. For consumers who make use of the right of access for the first time, the basis on which to calculate their minimum security stocks may be calculated on the firm consumption of the preceding 12 months, even if in that period no they shall have the status of a qualified consumer, taking into account how many circumstances may justify an amendment to the basis for the calculation of minimum security stocks.

Article 20. Criteria for determining the content of the obligation.

1. The maintenance obligations for minimum stocks of natural gas may be met by the subject under any of the following forms:

a) By storing gas from your property in facilities of your entitlement.

b) By storing gas from your property in third-party ownership facilities.

c) By subscribing for gas lease contracts, provided that such gas is not in compliance with other minimum security reserve obligations.

2. For the purposes of determining the content of the minimum security stock maintenance obligation under Article 2, they shall not be considered to be sales made between marketers.

Exports and outputs of products to other countries of the European Union should also be excluded.

3. In the case of the market at tariff, carriers incorporating natural gas into the system should maintain minimum safety stocks, both for their direct sales of a firm character to distributors and for sales to others. carriers.

4. In the liberalised market, groups of companies in the sector will be able to compute their sales and establish their minimum stocks of natural gas security on a consolidated basis. The Directorate-General for Energy Policy and Mines of the Ministry of Industry, Tourism and Trade is empowered to lay down the requirements and set the criteria to be met by the different companies of each business group for the purposes of be able to perform the aforementioned consolidation.

Article 21. Diversification of supply.

1. For the purposes of Article 3, provision is made for supplies coming from the same country to those who are directly engaged with producers in that country, as well as those who, still originating from or not the country in question, are directly linked, by reason of origin, to the production activity of the country.

2. For the purposes of the fulfilment of the diversification obligation, the annual amounts of gas incorporated into the Spanish system shall be taken into account in order to supply firm supplies and sales in the preceding calendar year.

Before 31 January each year, subjects forced to diversify supplies will send to the Strategic Petroleum Reserve Corporation the relationship of firm sales and gas imports, by country. of origin, corresponding to the preceding calendar year.

The Petroleum Products Strategic Reserves Corporation will publish the percentage of diversification our country is in at any given time, indicating the time period to which this percentage is affected.

3. They shall be excluded from the obligation to diversify, and consequently shall not be taken into account for the purposes of the preceding paragraph, the quantities of gas intended to meet the consumption of installations with alternative supplies. (a) to be guaranteed by other fuel and interruptible supplies and derivatives of short-term gas trading in international markets, with the understanding of gas purchase operations for delivery within a short period of time. less than one month from performing the operation.

4. Similarly, when a subject obliged to maintain diversification in its supplies, he wants to sign a gas supply contract that could exceed the proportion of 60 percent of gas from the main supplier country. According to the information published by the Corporation of Strategic Petroleum Products in accordance with the provisions of paragraph 2 of this article, the Spanish market may be directed to the Ministry of Industry, Tourism and Trade. requesting the authorization to subscribe to the contract, which will resolve as planned in the next section.

5. The Ministry of Industry, Tourism and Trade shall decide on the application for authorisation referred to in the previous paragraph, subject to a report from the National Energy Commission.

For the assessment of submitted applications, the following criteria will be taken into account:

1. º That favor competition in gas supply.

2. To improve security of supply.

3. º Not to the detriment of the effective functioning of the gas market.

d) Not to be detrimental to the effective functioning of gas infrastructures.

The resolution authorizing the signing of a gas supply contract that could exceed the proportion of 60 percent of gas from the main supplier country on the Spanish market should be motivated duly and will be published, including the following information:

a) The detailed reasons for authorizing the subscription of the contract.

b) The duration of such authorization.

(c) Detailed analysis of the impact that the granting of the authorisation has on competition and the effective functioning of the market.

d) Effects on the diversification of the supply generated by the authorization.

6. Without prejudice to the powers of development of this royal decree, the Ministry of Industry, Tourism and Trade will be able to modify the percentages of diversification of supplies, prior to the report of the National Energy Commission, according to the availability of the system and the evolution of the Spanish gas market and international markets.

TITLE II

Petroleum Products Strategic Reserves Corporation

CHAPTER I

Legal Regime of the Strategic Petroleum Reserve Corporation

Article 22. Nature and legal status.

1. The Corporation of Strategic Reserves of Petroleum Products, which was created by the Royal Decree 2111/1994, of October 28, in development of the provisions of Law 34/1992, of 22 December, of Management of the Petroleum Sector, has the consideration of the corporation of public law and is governed by the provisions of Law 34/1998 of 7 October, as established in this royal decree and by the statutes listed as an annex to it.

2. The Petroleum Products Strategic Reserves Corporation has its own legal personality and will act in the entirety of its activities under private law.

3. The Corporation of Strategic Petroleum Products Reserves will be subject in the exercise of its activity to the guardianship of the General Administration of the State, which will exercise it through the Ministry of Industry, Tourism and Commerce.

Article 23. Functions.

For the fulfillment of its purposes, the Corporation of Strategic Petroleum Products Reserves will exercise the functions contained in Law 34/1998, of October 7, and in this royal decree, as well as in the statutes that for this royal decree is approved and listed as an annex.

The Petroleum Products Strategic Reserves Corporation is intended to:

(a) The constitution, maintenance and management of strategic stocks rated as such by Article 14.

(b) The control of the minimum security stocks referred to in Article 50 of Law 34/1998 of 7 October and Article 2 of this royal decree.

(c) The monitoring of compliance with the obligation of minimum natural gas safety stocks set out in Article 98 of Law 34/1998 of 7 October, and in Article 2 of this royal decree.

d) Control of compliance with the obligation to diversify natural gas supplies, as provided for in Article 99 of Law 34/1998 of 7 October, and in Article 3 of this royal decree.

e) The development of statistical reports relating to the hydrocarbon sector, as well as collaboration with different public administrations for the purpose of providing information, advice and any other activity in respect of those aspects of its competence and the preparation and publication of an annual report containing the most significant data on the coverage of stocks, the origin of supplies, consumption and any other that allows for adequate knowledge of the reality of the hydrocarbon sector.

CHAPTER II

The Economic Regime of the Strategic Petroleum Reserve Corporation

Article 24. Heritage and resources.

1. The equity of the Strategic Petroleum Reserve Corporation shall be composed of the goods and rights that it acquires in the exercise of its activities.

2. The Petroleum Products Strategic Reserves Corporation will count for the fulfillment of its purposes with the resources established in this royal decree and in its statutes.

Article 25. Contribution of the obliged subjects.

1. Strategic stocks, which are set up in accordance with Article 14, shall be financed by the required subjects defined in Article 7, by payment of a unit quota per metric tonne or cubic metre sold or consumed, which will be different for each product group. This quota shall be determined on the basis of all the costs provided by the Strategic Petroleum Reserve Corporation for the formation, storage and conservation of the strategic stocks of each product group, the the financial reserve referred to in the fourth paragraph of Article 52.3 of Law 34/1998 of 7 October, as well as the cost of the other activities of the Corporation for Strategic Reserves of Petroleum Products related to petroleum products, without prejudice to the provisions of paragraph 3 below.

2. For the financing of the expenses of the Corporation for Strategic Reserves of Petroleum Products in activities related to liquefied petroleum gases and natural gas, including the allocation to the reserve referred to in the (a) an annual quota shall be established which shall satisfy the required subjects as defined in Article 8 and Article 15, in the light of their participation in the market, with the exception of the following paragraph.

3. The persons referred to in paragraphs (b) and (c) of Articles 7 and 8 who do not have storage facilities in the Spanish customs territory in a stable manner and for a period of one year or more, or who do not reach a sales or consumption equivalent to 0,5% of the total volume of each group of petroleum products or liquefied petroleum gases, sold or consumed in the national territory, may comply with the obligation to maintain stocks (a) minimum security, including the strategic ones, where appropriate, by payment of a unit quota per tonne metric or cubic meter sold or consumed, calculated for each group of liquefied petroleum products or gases, according to the costs of constitution, maintenance and management by the Corporation of Strategic Reserves of Petroleum Products of the minimum security stocks, including, where appropriate, the strategic stocks, to be maintained by those subjects.

The obligated subjects referred to in the previous paragraph who opt for this alternative shall inform the Strategic Petroleum Reserve Corporation of this circumstance, who shall notify the subject required if it meets the required conditions. If yes, the Petroleum Products Strategic Reserves Corporation and the obligated subject shall subscribe to the corresponding contract that will be in accordance with the type-contract referred to in Article 32.

4. Exceptionally, when the correct fulfilment of the purposes of the Strategic Petroleum Reserve Corporation so advises and in order to ensure, at all times, its financial solvency, quotas may be established extraordinary character.

Article 26. Setting quotas.

1. The quotas referred to in paragraphs 1, 2 and 3 of the previous Article shall be approved for each calendar year by order of the Minister for Industry, Tourism and Trade.

To this end, the Corporation of Strategic Petroleum Products Reserves will prepare a proposal that will be accompanied by a comprehensive budget of the revenues and expenses foreseen for the corresponding exercise and the criteria applied for the determination of the amount of unit quotas.

2. The extraordinary contributions referred to in paragraph 4 of the previous Article shall be laid down by order of the Minister for Industry, Tourism and Trade on a proposal from the Petroleum Products Strategic Reserves Corporation, to which the accompany the corresponding explanatory memory.

Article 27. Payment of the quotas.

1. Subject to the maintenance of minimum security stocks, the subject shall be sent monthly to the Petroleum Products Strategic Reserves Corporation within the time limits and models to be set for such purposes, sales statement or consumption. corresponding to the preceding calendar month, determined in accordance with Articles 10 and 17. The persons who are obliged to pay the quotas referred to in Article 25 (1) and (3), without prior notice, shall, where appropriate, enter in favour of the Corporation for Strategic Reserves of Petroleum Products in the time limits, in the form and through the means determined by it, of the quantities resulting from the application of those quotas. The quantities corresponding to the quota referred to in Article 25 (2) shall be entered on a yearly basis by the persons who are obliged to participate in the market for each of them in the preceding year, which relates to products affected by the obligation.

2. The income in favour of the Corporation for Strategic Reserves of Petroleum Products of the amount of the extraordinary contributions referred to in Article 25 (4) shall be made within the time limit laid down by the ministerial order in which they are fixed and in the form and through the means that the Strategic Petroleum Reserve Corporation determines.

3. Failure to pay within the indicated period shall result in the accrual of late interest from the day following its completion to which the income is made, at the rate resulting from the addition to the legal interest of the money in force at any time percentage points.

4. The Petroleum Products Strategic Reserves Corporation will formally require the obligated subjects not to present their sales statements or to consume or not to enter in favor of the corresponding quotas, with the a warning that, if they do not remedy such deficiencies, it will raise the proposal for the initiation of a sanctioning file to the competent administrative authority for the purposes set out in Articles 108 et seq. of Law 34/1998 of 7 October. This shall be without prejudice to the exercise of the corresponding actions for the recovery of the amounts due to the Strategic Petroleum Reserve Corporation of Petroleum Products.

5. The total or partial non-payment of the quotas to the Petroleum Products Strategic Reserves Corporation shall be deemed to be a serious or very serious infringement of the rules on minimum security stocks, in accordance with the provisions of the Articles 109 and 110 of Law 34/1998 of 7 October.

Article 28. Accounting and auditing.

1. The Petroleum Products Strategic Reserves Corporation shall be governed by the rules of commercial law as regards the keeping of its accounting, official books and accounting documents.

2. Annual accounts, consisting of the balance sheet, profit and loss account and memory, as well as the management report, before approval, shall be audited by independent expert.

3. The annual accounts shall be approved by the Ministry of Industry, Tourism and Trade within a maximum of three months from the date of their approval.

Article 29. Application of results.

1. The positive results of the sale or swap of strategic stocks carried out in accordance with the provisions of Article 36 shall not be the subject of distribution, with priority being given to the depreciation of the debts incurred. by the Corporation for Strategic Petroleum Products Reserves.

2. The application of the positive ordinary results obtained by the Corporation for Strategic Reserves of Petroleum Products from the financial contributions made by its members is regulated in accordance with the provisions of Article 13.3 of the Treaty. the statutes of the Strategic Petroleum Reserve Corporation listed as an annex to this royal decree.

CHAPTER III

Constitution, maintenance and management of strategic petroleum product stocks

Article 30. Forms of acquisition and maintenance of strategic stocks.

1. The Strategic Petroleum Reserve Corporation shall constitute and maintain the minimum security stocks rated as strategic crude oil and petroleum products through the following procedures:

(a) Acquisition by purchase or swap of the necessary stocks, under market conditions.

b) Leasing the stock operators to the price and market conditions, up to a maximum of 50 percent of the total strategic stock.

For the case of strategic stocks held in the form of crude, the same equivalence criteria shall apply between crude and products as referred to in Article 9.

2. For these purposes, the Strategic Petroleum Reserve Corporation may enter into contracts for the purchase and sale, swap or lease of strategic stocks. In all cases, the Strategic Petroleum Reserve Corporation must ensure that the conditions of competition existing on the market are maintained, without altering its normal operation, without prejudice to the set out in Article 39.

Article 31. Storage of strategic stocks.

1. The Petroleum Products Strategic Reserves Corporation may also enter into market conditions the purchase or lease of the storage capacity necessary for the maintenance of the strategic stocks.

2. Members of the Strategic Petroleum Reserve Corporation that are owners of storage facilities shall, where appropriate, sell or lease storage capacity to the Strategic Reserve Corporation of Petroleum products under market conditions, provided that they so request. This obligation shall be established on the basis of the volume of the annual financial contribution to the Strategic Petroleum Reserve Corporation of each member.

Article 32. Type contracts.

Operations for the purchase, sale, swap, lease and storage of strategic reserves, as well as those for the establishment of minimum security stocks referred to in Article 25.3, shall be in accordance with type-contracts. Models will be approved by the Directorate-General for Energy Policy and Mines, from the Ministry of Industry, Tourism and Trade.

Article 33. Geographical distribution of strategic stocks.

1. The Petroleum Products Strategic Reserves Corporation will guarantee a geographical distribution of the strategic stocks so that they can reach the centers of consumption over 30 days on a continuous basis. To this end, where the geographical situation or other special circumstances so advise, the volume of strategic stocks must be located in the territory corresponding to the possible needs in case of emergency.

2. The Petroleum Products Strategic Reserves Corporation will give an annual account to the General Directorate of Energy and Mines Policy, Ministry of Industry, Tourism and Commerce, of the geographical distribution of strategic stocks. and, where appropriate, plans for future modification.

Article 34. Quality of products.

1. The products maintained by the Corporation of Strategic Petroleum Products as strategic stocks shall meet at all times the characteristics of quality and suitability for consumption in the uses to which by its own They are intended to comply with the existing regulations on official specifications of the products.

2. The Petroleum Products Strategic Reserves Corporation will do well on its own, either through the storage or oil company lessors of recognized solvency, the rotation of its stocks and how many operations are precise for the maintenance of the quality of finished products stored as strategic stocks and for their final treatment prior to being dumped on the market, in order to comply with the relevant specifications, when is appropriate.

Article 35. Securing strategic stocks.

The Corporation of Strategic Petroleum Products Reserves must have at all times an insurance on all the strategic stocks whose maintenance is responsible. This insurance may be contracted directly by the Petroleum Products Strategic Reserves Corporation or by the storage company itself, and should include in the corresponding policy, in the latter case, a clause that establishes as a beneficiary to the Petroleum Products Strategic Reserves Corporation in relation to any compensation resulting from it.

Article 36. Sale or swap of strategic stocks.

1. The Petroleum Products Strategic Reserves Corporation may sell or permute excess stock on the mandatory level, if any, upon agreement of the Board of Directors, provided that such sale, or transmission in the case of permuse, is produced at a price or value equal to the weighted average cost of acquisition, or to the market if higher. If the selling price or the value of the swap is lower than the weighted average cost of purchase, the authorisation of the Ministry of Industry, Tourism and Trade shall be required.

2. In any other case other than that referred to in the preceding paragraph, except as provided for in Article 34 (2), the sale or swap of strategic stocks by the Petroleum Products Strategic Reserves Corporation shall require the prior authorisation from the Ministry of Industry, Tourism and Trade.

3. In any event, the sale or swap of strategic stocks by the Petroleum Products Strategic Reserves Corporation may alter the conditions of competition or the normal functioning of the product market. oil.

CHAPTER IV

Inspection powers and initiation of the sanctioning procedure

Article 37. Inspection powers.

1. As set out in Article 52 of Law 34/1998 of 7 October, the Petroleum Products Strategic Reserves Corporation has the power to inspect and monitor compliance with maintenance obligations. minimum security stocks as defined in Article 50 of that law.

2. Likewise, the Petroleum Products Strategic Reserves Corporation has the power to inspect and control compliance with the obligations contained in the contracts that it has with respect to the lease or storage. of strategic stocks.

3. Likewise, the Petroleum Products Strategic Reserves Corporation has the power to inspect and control the minimum natural gas safety stocks and the diversification of supplies, as set out in Article 100 of the Law 34/1998 of 7 October.

4. The Petroleum Products Strategic Reserves Corporation shall also exercise the inspection and control functions that may be derived from the content of the collaboration agreements which it subscribes with the various administrations. autonomic, as set out in Article 4.d).

5. For this purpose, it may collect as many information as may be necessary and carry out any inspections, physical or documentary, which are accurate in relation to any subject obliged to maintain minimum stocks of safety and diversification of supplies, or their storekeepers or depositaries, as well as in relation to any natural or legal person with whom contracts are concluded for the leasing or storage of strategic stocks.

6. The personnel of the Strategic Reserves Corporation of Petroleum Products or third parties, duly authorized by it and under its direction, may access the premises or warehouses of any subject inspected, in accordance with the established in the previous paragraph, and examine how many documents, installations or conditions relate to minimum security or strategic stocks and to the diversification of supplies.

Article 38. Development of the inspection.

1. The inspection may be carried out in the place where the stocks are located or in any other related to these or with the diversification of supplies, and shall be carried out in accordance with the general rules of operation of the facilities or premises.

2. The fact of preventing persons who are entitled to the inspection from entering the site or hindering or avoiding their action, by any means or procedure, shall be considered as serious infringements, as provided for by the Article 110 of Law 34/1998 of 7 October.

3. The inspection shall draw up a report where all the facts and circumstances resulting from the action taken shall be reflected.

4. The minutes should also reflect whether, in the view of the inspection, there is a breach of the form and conditions in which stocks, both minimum and strategic, must be maintained, as well as the diversification of supplies, agreement with what was established in this royal decree.

5. After the inspection file has been completed, the Chairman of the Petroleum Products Strategic Reserves Corporation, in the event of an assessment of non-compliance, shall bring the action taken to the competent administrative authority for the purposes of which, if this is the case, the appropriate sanctioning file may be initiated.

TITLE III

Application of minimum security stocks

Article 39. Application of minimum stocks of petroleum product safety.

1. The Council of Ministers, by agreement, in a situation of supply shortages of petroleum products, may order the submission of minimum security stocks, including strategic stocks, to an intervention regime under control. (a) direct from the Corporation for Strategic Reserves of Petroleum Products, in order to induce the most appropriate use of the available resources, as provided for in Article 49 of Law 34/1998, of 7 October, being able to establish the use or final destination of the minimum security stocks, including the strategic ones, arranged for consumption or processing, provided that this is necessary to ensure supply to consumer centres which are considered to be a priority.

You may also adopt in the scope, with the duration and exceptions that are determined, among others, some or some of the following measures:

(a) Limitations of the maximum speed of road traffic on public roads.

b) Limitation of the circulation of any type of vehicle.

c) Limitation of ship and aircraft navigation.

d) Limitation of schedules and opening days of facilities for the supply of petroleum products.

e) Suspension of exports of energy products.

f) Limitation or allocation of supplies to consumers of all types of petroleum products, as well as restrictions on the use of such products.

g) Impose the holders of hydrocarbon exploitation concessions referred to in Title II of Law 34/1998 of 7 October, the obligation to supply their product for domestic consumption.

h) Intervening the sale prices to the public of petroleum products.

(i) Any other measures which may be recommended by the international bodies of which the Kingdom of Spain is a party, to be determined in accordance with those conventions to which the Kingdom of Spain is participating or subscribed in respect of which similar measures are envisaged.

2. The Minister of Industry, Tourism and Trade, on a proposal from the Corporation for Strategic Reserves of Petroleum Products, will be able to develop by ministerial order rules or general plans of implementation in case of crisis in the supply of petroleum products or specific supply problems, which may include the disposal or disposal of strategic stocks. The strategic stocks to be used shall be offered at market prices to those subject to the maintenance of minimum stocks for consumption.

3. For the purposes of this article, the Petroleum Products Strategic Reserves Corporation will develop a manual of situations and procedures for the sale or permuse of strategic stocks in these circumstances.

4. The Council of Ministers shall also determine the remuneration arrangements applicable to those activities which are affected by the measures taken, ensuring, in any event, a balanced distribution of costs.

Article 40. Application of minimum stocks of natural gas safety.

1. For the purposes set out in Article 101 of Law 34/1998 of 7 October, and in this royal decree, emergency situations are considered those cases in which, due to circumstances beyond the control of any or all of the subjects they are involved in the gas system, there is, or there is a clear risk that there may be a shortage or supply of gas supplies of a firm nature, as well as when security of gas can be threatened. persons, appliances or installations, or the integrity of the gas network.

2. In accordance with the provisions of Article 101.2 of Law 34/1998 of 7 October 1998, the Government, in the event of emergency or supply shortages and without prejudice to the use of stocks in accordance with paragraph 3 of this Article, may adopt some or some of the following measures:

a) Limiting or temporarily modifying the gas market.

b) Establish special obligations on minimum stocks of natural gas security.

c) Suspend or temporarily modify the rights of access to facilities by third parties.

(d) to amend the general conditions of regularity in the supply in general or in relation to certain categories of consumers.

e) Submit to administrative authorization natural gas sales for consumption abroad.

(f) Any other measures that may be recommended by the international bodies of which Spain is a party or which are determined in application of those conventions in which it is involved.

3. The persons involved in the gas system, without prejudice to the other obligations to be assumed in emergency situations, supply crises or point of supply problems, shall be obliged to draw up a plan of emergency to be sent to the technical manager of the system, referred to in Article 64 of that Law 34/1998 of 7 October.

Such plans, which shall be updated annually, shall contain, inter alia, the following specifications:

a) Review and description of the interruptible gas supply commitments.

(b) Review and description of commitments of a firm nature of gas supply, including an order of supply priorities, on the basis of criteria for the minimisation of effects on economic activity, and giving preference, in any case, to essential services, domestic, commercial and public and industrial supplies, in this order.

c) Own stock management plan.

d) Plan to use other stocks.

e) Mode and time required for the reset of affected services.

f) Measures that are proposed according to possible emergency situations.

In view of those, the technical manager of the system will propose a plan to be approved by the Ministry of Industry, Tourism and Trade, which will set the procedure, priorities of supply, by ministerial order, use of own and external stocks and time to replace them. The control and monitoring of the use of minimum security stocks in this case is entrusted to the Corporation of Strategic Petroleum Products Reserves.

4. In the light of the above measures, the Council of Ministers will determine the remuneration arrangements applicable to those activities which are affected by the measures taken, while ensuring a balanced distribution of the costs.

First transient disposition. Minimum stocks of natural gas security and diversification.

The subjects required to maintain minimum safety stocks of liquefied petroleum gases or natural gas or to diversify the supply of natural gas shall comply with the provisions of Chapter III of Title I before six months from the entry into force of this royal decree. However, procurement contracts which have been signed prior to the entry into force of this royal decree, and which assume a dependence on the same country of more than 60%, may be maintained until their maturity, without the possibility of extending or entering into new contracts with the same country, as long as the obligation to diversify supply is not met.

Second transient disposition. Increase of strategic stocks.

The provisions of Article 14 shall apply from 1 January 2007. The Minister for Industry, Tourism and Trade will determine by order the timetable for adapting the current situation to the provisions of Article 14 by following the following criteria:

a) The process should be progressive and annual with entry into force on 1 January 2005, 2006 and 2007.

(b) The purchases of stocks needed to meet the new needs must be carried out in market conditions, preferably to the required subjects in the proportion corresponding to their obligations.

(c) However, the above shall, in any case, take precedence over offers of sale involving storage services under market conditions, with long-term contracts.

Transitional provision third. Diversification of the supply of natural gas for carriers incorporating gas into the system.

The carriers that incorporate natural gas into the system of the obligation to diversify their supplies, as provided for in Article 20 of this royal decree, are exempted, while Article 15 of the Royal Decree is still in force. Decree Law 6/2000 of 23 June establishing that natural gas from the contract of Algeria will be applied preferably to the supply of tariffs, as from 1 January 2004.

Single repeal provision. Regulatory repeal.

Royal Decree 2111/1994 of 28 October, which regulates the obligation to maintain minimum stocks of petroleum product safety and constitutes the Corporation of Strategic Reserves, is hereby repealed. how many provisions of equal or lower rank are opposed to the provisions of this royal decree.

Final disposition first. Amendment of Royal Decree 949/2001 of 3 August, regulating the access of third parties to gas installations and establishing an integrated economic system of the natural gas sector.

(a) and (b) of Article 29 (2) of Royal Decree 949/2001, of 3 August, governing the access of third parties to gas installations and the establishment of an integrated economic system of the Natural gas sector, which are worded as follows:

" a) Regasification Peages. The toll of the regasification service shall include the right to the use of the facilities necessary for the unloading of ships, transport to liquefied natural gas (LNG) tanks, regasification or loading of LNG tankers and an operational storage of LNG in plant, equivalent to five days of daily contracted capacity.

The procurement of the regasification toll will entitle the contracting of the LNG storage service to plant, additional to that included in this toll, by the capacity required for the unloading of ships used for the LNG transport, with the limit of the maximum capacity to attract.

b) Transport and distribution Peaje. The toll of the transport and distribution service shall include the right to the use of the facilities necessary to transport the gas from the point of entry in the transport network to the point of supply to the qualified consumer, as well as the use of an operational storage corresponding to two days of the contracted transport and distribution capacity. This toll shall also be applicable to the supply of consumers connected to local distribution networks fed by satellite plants. '

Final disposition second. Basic character.

1. This royal decree has a basic character in accordance with the provisions of article 149.1.13.a and 25.a of the Constitution.

2. The references to administrative procedures, which will be regulated by the competent authorities, are excluded from this basic character, in any case complying with the provisions of Law No 30/1992 of 26 November 1992 on the legal system of Public administrations and the Common Administrative Procedure.

Final disposition third. Powers of development.

The Minister of Industry, Tourism and Commerce is hereby authorized to issue any provisions necessary for the development and implementation of this royal decree.

Final disposition fourth. Entry into force.

This royal decree shall enter into force on the day following that of its publication in the "Official Gazette of the State", except as provided in the first provision, which shall not apply until six months have elapsed. from the entry into force of this royal decree.

Given in Palma de Mallorca, 23 July 2004.

JOHN CARLOS R.

The Minister of Industry, Tourism and Trade,

JOSE MONTILLA AGUILERA

ANNEX

Statutes of the Petroleum Products Strategic Reserves Corporation

CHAPTER I

General provisions

Article 1. Name and legal status.

The Petroleum Products Strategic Reserves Corporation, created by Royal Decree 2111/1994 of 28 October, will be governed by the provisions of Law 34/1998 of 7 October of the Hydrocarbons Sector, for the regulatory provisions for implementation and by these statutes.

Article 2. Object.

The Corporation has as its object:

(a) The constitution, maintenance and management of strategic stocks qualified as such by Article 14 of this royal decree.

(b) The control of the minimum security stocks referred to in Article 50 of Law 34/1998 of 7 October and Article 2 (1) of this royal decree.

(c) The monitoring of compliance with the obligation to maintain minimum stocks of natural gas security provided for in Article 98 of Law 34/1998 of 7 October and in Article 2 (2) of this Directive decree.

d) Control of compliance with the obligation to diversify natural gas supplies provided for in Article 99 of Law 34/1998 of 7 October, and in Article 3 of this royal decree.

e) The development of statistical reports relating to the hydrocarbon sector, as well as collaboration with different public administrations for the purpose of providing information, advice and any other activity with respect to those aspects of their competence.

Article 3. Address.

The Corporation of Strategic Petroleum Products Reserves will establish its domicile in the city of Madrid, being able to change the domicile within the same municipal term if for any circumstance it is necessary. It may also establish the delegations and representations in other places in the national territory deemed necessary for the fulfilment of its purposes.

Article 4. Duration.

The duration of the Strategic Petroleum Reserve Corporation is indefinite.

Article 5. Territorial scope.

The Petroleum Products Strategic Reserves Corporation has a state scope and its activities extend to the entire territory of the Spanish State.

CHAPTER II

From the members of the Strategic Petroleum Reserve Corporation and the representative bodies

Article 6. Members.

1. All operators authorized to distribute petroleum products, including liquefied petroleum gases, shall be members of the Petroleum Products Strategic Reserves Corporation for the compulsory membership. Petroleum, regulated in Articles 42 and 45 of Law 34/1998 of 7 October, as well as carriers incorporating gas into the system and natural gas traders regulated in Article 58.a) and d) of that law.

2. The member condition is automatically acquired from the date of the administrative authorization for the performance of the activity and will be retained as long as such authorization remains in force.

Article 7. Governing bodies.

The governing bodies of the Petroleum Products Strategic Reserves Corporation are as follows:

a) The President.

b) The General Assembly.

c) The Board Of Directors.

Article 8. Duties of the President.

The Chairman of the Strategic Petroleum Reserve Corporation will have the following functions:

(a) Ostend the legal representation of the Corporation of Strategic Petroleum Products in all types of acts and contracts and in the face of any natural or legal person, on trial or outside of it, without prejudice to the the system of powers established by the Board of Directors.

(b) To direct the activities and inspection tasks by proposing to the competent public administration the initiation of the corresponding sanctioning files.

c) Present to the Board of Directors for approval the proposals for the fixing of quotas and annual accounts.

d) Call and chair the Board of Directors and the General Assembly.

e) Deciding on those issues that relate to the inspector's activity and the treatment of individualized information of the required subjects.

f) Exercise the powers that the Board of Directors delegates to it in an express manner, as well as the other powers assigned to it by the current order.

Article 9. The General Assembly.

1. The General Assembly is constituted by all members of the Corporation for Strategic Reserves of Petroleum Products, duly accredited.

2. It is up to the Chairman of the Strategic Petroleum Reserve Corporation to convene the General Assembly. Such a call shall be unique, and the corresponding notice, which shall contain the date of conclusion and the order of the day of the cases to be dealt with, shall be published in at least two newspapers of the highest circulation at national level, with 15 days as Minimum advance notice to the date of celebration.

This time limit may be lower in the case of circumstances of urgency so advise you, after communication to the Ministry of Industry, Tourism and Trade.

3. The President shall convene the General Assembly necessarily once in each economic year to report on the evolution of the activities of the Petroleum Products Strategic Reserves Corporation during the previous financial year, for to approve the accounts and to censor the management of the administrative bodies. It shall also convene the General Assembly upon request in writing, indicating the purpose of the call, members of the Strategic Petroleum Reserve Corporation representing at least 15 percent of the total of the votes of the associates. The President may also convene the General Assembly when it is appropriate for the interests of the Strategic Petroleum Reserve Corporation.

4. The General Assembly will have the capacity to take agreements whatever the number of assistants. It will be chaired by the Chairman of the Petroleum Products Strategic Reserves Corporation, which will be appointed by the Secretary to raise the minutes of the sessions, which will act with a voice but without a vote.

5. The agreements shall be adopted by a majority of three quarters of the votes present and shall be communicated to the Ministry of Industry, Tourism and Trade, after the approval of the minutes concerned, which, if necessary, and within 15 days of from the date of receipt, it may impose its veto on those agreements which may infringe the provisions of Law 34/1998 of 7 October of the Hydrocarbons Sector and provisions for development.

6. The General Assembly shall decide on the approval of the accounts and the management of the administrative bodies, as well as on those other matters attributed to it in the legal provisions or in these statutes.

Article 10. Right to vote.

Each member will have the corresponding votes according to the amount of his annual financial contribution to the Strategic Petroleum Reserve Corporation.

The financial contribution referred to in the preceding paragraph shall be calculated in accordance with the amount of the fees effectively paid to the Strategic Petroleum Reserve Corporation for the 12 months. immediately prior to the date of the General Assembly's convocation, except in the case where the object of the latter is the approval of the annual accounts and the censorship of the management of the administrative organs; in such a case, that contribution shall be made during the relevant financial year.

The Board of Directors will verify the number of votes each member counts before the General Assembly is held.

Article 11. The Board of Directors.

1. The Board of Directors will be made up of 11 members in addition to the Chairman of the Petroleum Products Strategic Reserves Corporation, who will chair the Board.

2. The Chairman of the Petroleum Products Strategic Reserves Corporation and three of the members of the Board of Directors will be appointed by the Minister of Industry, Tourism and Trade for a term of five years and may be re-elected by equal periods.

One of the vowels will be proposed by the National Energy Commission.

3. The remaining eight vowels shall be elected by the General Assembly for a term of five years and may be re-elected for equal periods as follows:

(a) The operators authorised to distribute the wholesale petroleum products, which have the capacity of refining in the national territory, shall elect three representatives.

b) Operators without refining capacity, authorized to distribute wholesale petroleum products, will elect two representatives.

(c) Operators authorised to distribute oil liquefied petroleum gases shall choose a voice.

d) Carriers that incorporate gas into the system will choose a vowel.

e) Natural gas marketers members of the Strategic Petroleum Products Reserve Corporation will choose a vocal.

4. The Board of Directors shall elect, from among its members, by a majority, a Vice President of the Strategic Petroleum Reserve Corporation, which shall have as functions the organic functions arising from the replacement of the President.

5. The Board of Directors may set up one or more committees, with specific powers on any of the parcels constituting the legal object of the Strategic Petroleum Reserve Corporation, although subject to control. The last of the Board of Directors, or in order to comply with the regulations in force at every moment. The Board of Directors, when setting up such committees, shall provide for the specific powers they assume, their deliberation procedures and operating rules, the number and identity of their members, as well as any other circumstances they may consider. convenient.

6. If one of the chosen vowels ceases before the expiry of his/her term of office, the Board of Directors may appoint a new vowel for the time remaining until the next General Assembly.

Article 12. Functions of the Board of Directors.

1. Corresponds to the Board of Directors:

(a) Determine the overall policy of performance of the Strategic Petroleum Reserve Corporation and deliberate on the issues that are of importance to it.

b) Approve the rules and procedures for the internal organization and operation of the Strategic Petroleum Reserve Corporation, in accordance with the regulatory principles of its legal regime.

c) Control the activity of the Corporation for Strategic Reserves of Petroleum Products, except in those aspects related to specific inspection tasks or related to the individual information of the subjects required.

d) Approve the proposals for the fixing of quotas for referral to the Ministry of Industry, Tourism and Trade.

e) Formulate the annual accounts of the Strategic Petroleum Reserve Corporation.

f) Exercise the other functions assigned to you by the statutory provisions or these statutes.

g) Approve an inspection manual, comprehensive of the basic principles to which the inspector's activity must be adjusted, as well as the procedures for carrying out the inspection.

h) Establish the home of the Strategic Petroleum Reserve Corporation, as well as the delegations or representations deemed necessary for the fulfilment of their purposes.

i) Other competencies not attributed to the General Assembly or to the Chairman of the Strategic Petroleum Reserve Corporation.

2. The Board of Directors shall be validly constituted when they attend the meeting, convened by the President or who replaces him, in addition to this, one half plus one of his vowels. The agreements shall be adopted by a majority of votes cast. The Minister of Industry, Tourism and Trade, through the President, may exercise the right of veto, within 15 days, on any decision contrary to public interests.

CHAPTER III

Economic Regime

Article 13. Economic resources.

1. The Petroleum Products Strategic Reserves Corporation will have the following economic resources:

(a) The ordinary or extraordinary shares to be met by members of the Strategic Petroleum Reserve Corporation of Petroleum Products and other subjects required to maintain minimum security stocks.

(b) The products and income of the assets and values that constitute their assets.

(c) Revenue from borrowing or borrowing. To this end, the Petroleum Products Strategic Reserves Corporation will be able to go to the financial markets to obtain the necessary resources for the realization of its objectives.

d) Any other ordinary or extraordinary income that may be generated by the exercise of its activities.

2. The quotas shall be paid to the Strategic Petroleum Reserve Corporation in the form and time limit to be determined in the applicable regulations.

3. In the event of an excess of collection from the quotas in relation to the expenditure actually incurred for the purposes of which those costs were fixed, the Board may agree to the repayment of the abovementioned surplus, either its application for the determination of future quotas, or to provide the financial reserve referred to in the fourth paragraph of Article 52.3 of Law 34/1998 of 7 October until such time as it reaches a minimum amount equivalent to a quarter of the ordinary expenditure of the financial year for which the expenditure is incurred. Such an agreement shall be ratified by the General Assembly convened for the approval of the annual accounts of the relevant financial year.

4. Before being referred to the Ministry of Industry, Tourism and Trade, the proposals for the fixing of quotas will be made known, together with the corresponding budget, to all the members of the Corporation of Strategic Reserves of Products Oil. For such purposes, the corresponding General Assembly shall be convened.

Article 14. Budget.

The Petroleum Products Strategic Reserves Corporation shall draw up the regular annual budget of revenue and expenditure referred to in paragraph 4 of the previous Article, subject to the rules contained therein. (a) the statutes and the general rules applicable to the matter, and shall contain the provision of the financial means necessary for the fulfilment of their objectives.

CHAPTER IV

From the dissolution of the Strategic Petroleum Reserve Corporation

Article 15. Dissolution.

The Petroleum Products Strategic Reserves Corporation will be dissolved by the causes and with the intended effects of the law.

Article 16. Liquidator commission.

In case of dissolution of the Corporation of Strategic Reserves of Petroleum Products, a liquidating commission will be appointed by the Extraordinary General Assembly that will proceed to carry out as many operations as necessary to settlement.