International ticket agreements
This description briefly specifies the rules and procedures that apply when CSO companies enters international ticket agreements with foreign economic operators and foreign central stockholding entities.
The purpose of this is to explain the terms and conditions that apply when Danish CSO companies enters such agreements.
The rules in their full text appear from Danish Act on Emergency Oil Stockholdings and related executive orders and guidelines. This description has no precedence over the law. All relevant legislation can be found here.
An international ticket agreement is an agreement whereby a CSO company in Denmark and an economic operator in another country with which Denmark has made a bilateral agreement in order that the obligated company may meet its stockholding obligation.
Who is eligible?
All Danish CSO companies may enter into international ticket agreements.
An international ticket agreement must be registered with FDO. The registration must be made via OilData. As a general rule, such registration must be made not later than one month before commencement of the coverage period. With some countries, arrangements have been made about a larger degree of flexibility than the general procedures allow for. In specific cases, FDO should be contacted. An agreement must have a minimum term of one calendar month, except for certain countries where the minimum term is three calendar months.
International ticket agreements must prior to the coverage start be approved by the authorities from the covering and covered countries. In Denmark international ticket agreements are to be approved by FDO. FDO will process the agreement as soon as possible and forward it to the foreign authorities for approval. No later than 3 business days before the start of the coverage period the company will receive response from FDO through OilData.
Danish CSO companies can cover a maximum of 30% of their CSO in each product category with coverage from abroad. If this limit is being exceeded FDO will automatically adjust the allowed coverage from the ticket in OilData.
It is not allowed for a CSO company to sub delegate the coverage that is received from ticket agreements.
If the FDO finds that the conditions for an international ticket agreement is not met, the Danish Energy Agency will be notified.
Which countries are eligible for international ticket agreements?
International ticket agreements may be made with these countries.