The Kingdom of the Netherlands
and
the Republic of Cyprus
(hereinafter referred to as “the Contracting Parties”);
Having regard to Council Directive 2006/67/EC of July 24th, imposing obligations on Member States of the European Union to maintain minimum
stocks of crude oil and/or petroleum products (hereinafter together referred to as
“the Directive”);
Having regard to Article 7 of the Directive which envisages the establishment of stocks
within the territory of a Member State for the account of undertakings, established
in another Member State, under agreements between Governments;
Having regard to national legislation regarding oil stocking obligations;