Krift tank farm bolstering supply security
Around 240,000 tonnes of crude oil are stored at RAG’s Krift tank farm, near Kremsmünster in Upper Austria. The site has eco-friendly connections to pipeline and rail networks. The tanks are used not just to store oil produced by RAG but also to offer capacity to customers in RAG’s role as an approved stockholder. Importers of oil are legally obliged to keep a quarter of the previous year’s imports in storage.
RAG provides this service for customers, maintaining legally mandated short and long-term storage of minimum reserves (compulsory emergency reserves). This enhances security of supply in Austria by creating buffer stocks to maintain oil supplies in an emergency – particularly important in today’s a testing energy and geopolitical environment.
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