Mongolia has reached an agreement to purchase 6,000 tons of AI-92, AI-95, and Euro 5 gasoline from China, with the first shipment of 1,000 tons scheduled to be loaded at Erenhot on July 31, according to B.Dashpurev, State Secretary of the Ministry of Industry and Mineral Resources.
B.Dashpurev said that fuel reserves and supplies have been affected in recent months by the ongoing Russia–Ukraine war and tensions in the Middle East. In response, the government has been working to increase the country's petroleum reserves and expand fuel storage capacity.
He noted that Mongolia's fuel consumption continues to grow rapidly and that the country currently has the capacity to maintain up to 42 days of fuel reserves, including fuel stored in transit tank cars.
Ahead of the Naadam Festival, the government built up fuel reserves to meet the expected surge in demand during the extended holiday period. Since the spring, Mongolia has been negotiating with Russia, China, and the Republic of Korea to secure additional fuel supplies.
As of today, the country has 31,000 tons of AI-92 gasoline, enough for 15 days of consumption, and 80,000 tons of diesel fuel, sufficient for 20 days.
To further strengthen short-term reserves, Mongolia has increased the volume of fuel imports from Russia for July. Dashpurev also said that Minister of Industry and Mineral Resources G.Damdinnyam is in the Republic of Korea holding talks on fuel imports, including the purchase of Jet A-1 aviation fuel.
The newly signed agreement with China will further expand Mongolia's fuel reserves, with the first shipment expected to arrive after loading begins on July 31 at Erenhot.
G.Dashpurev added that fuel inventories held by Petrovis, Sod Mongol, Shunkhlai, and Tes Petroleum LLC have declined in recent weeks, but expressed confidence that supply shortages will ease as new shipments begin arriving.
Mongolia has reached an agreement to purchase 6,000 tons of AI-92, AI-95, and Euro 5 gasoline from China, with the first shipment of 1,000 tons scheduled to be loaded at Erenhot on July 31, according to B.Dashpurev, State Secretary of the Ministry of Industry and Mineral Resources.
B.Dashpurev said that fuel reserves and supplies have been affected in recent months by the ongoing Russia–Ukraine war and tensions in the Middle East. In response, the government has been working to increase the country's petroleum reserves and expand fuel storage capacity.
He noted that Mongolia's fuel consumption continues to grow rapidly and that the country currently has the capacity to maintain up to 42 days of fuel reserves, including fuel stored in transit tank cars.
Ahead of the Naadam Festival, the government built up fuel reserves to meet the expected surge in demand during the extended holiday period. Since the spring, Mongolia has been negotiating with Russia, China, and the Republic of Korea to secure additional fuel supplies.
As of today, the country has 31,000 tons of AI-92 gasoline, enough for 15 days of consumption, and 80,000 tons of diesel fuel, sufficient for 20 days.
To further strengthen short-term reserves, Mongolia has increased the volume of fuel imports from Russia for July. Dashpurev also said that Minister of Industry and Mineral Resources G.Damdinnyam is in the Republic of Korea holding talks on fuel imports, including the purchase of Jet A-1 aviation fuel.
The newly signed agreement with China will further expand Mongolia's fuel reserves, with the first shipment expected to arrive after loading begins on July 31 at Erenhot.
G.Dashpurev added that fuel inventories held by Petrovis, Sod Mongol, Shunkhlai, and Tes Petroleum LLC have declined in recent weeks, but expressed confidence that supply shortages will ease as new shipments begin arriving.