Representatives of the Government of Montenegro and American companies signed a memorandum today with the aim of starting the implementation of two energy infrastructure projects - the construction of a terminal for the import of liquefied natural gas (LNG) in Montenegro, and the installation of a gas-fired thermal power plant, the supply of which would come through the terminal.
The terminal and thermal power plant projects will be located in the Port of Bar, and the memorandum of understanding states that the facilities could start operating by the end of 2025, and it is estimated that the price of the terminal project would be in the range of 130 to 250 million euros, and the thermal power plants between 200 and 500 million euros.
The memorandum regarding the provision of support for the improvement of energy infrastructure was signed in Villa "Gorica" on behalf of the Government by Prime Minister Dritan Abazović, and on behalf of the American companies Enerflex Energy Systems and Wethington Energy, Fil Paj and Olin Wethington.
They did not want to talk about the start date of the works and the value of the investment, stating that it depends on many factors.
Abazović said that it is a strategic interest of Montenegro, that is, a project that would make the Port of Bar the first place where natural gas will reach Montenegro.
"A feature of strategic interest is to make the Port of Bar a place where an LNG terminal will be built and thus natural gas will arrive in Montenegro. Energy diversification is essential for the development of Montenegro. It has a component of reducing dependence on Russian gas, this is geopolitical important for us, but above all we are talking about the country knowing what it wants for the next 10 to 50 years. Bringing credible American investors was almost impossible in the previous period, and bringing prestigious American companies from the energy sector I think is a big deal not only for Montenegro, but also the region," said Abazović.
Wettington stated that energy security contributes to the good of the country, and that this project is exactly that.
He emphasized that Montenegro has the best technological partner in American companies.
"I believe that we have secured the energy foundation... This project process is a model of transparency and good governance. I was impressed by yesterday's Government session, I compared it to the processes in the USA. I am not sure that this level of transparency would be the case here." said a representative of the American company.
Pajle, from the company Enerflex Energy Systems, stated that the company is present mainly in North America and that it is a great pleasure for him to work with the Government of Montenegro.
He emphasized that they want to include the local community in the construction of facilities in the project.
The Ambassador of the United States of America (USA) Judy Rising Reinke, who also attended the signing of the memorandum, said that the project brings the best to Montenegro in terms of technology, equipment, knowledge and skills.
"The project will provide Montenegro with energy independence in the period of transition to renewable energy sources".
She emphasized that the project will bring new jobs, and that they will strengthen the economic cooperation between Montenegro and the USA.
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