Montenergo signs MoU for LNG terminal in port of Bar
The Government of Montenegro, signed a memorandum of understanding (MoU) with US companies Enerflex Energy Systems and Wethington Energy Innovation, to install a LNG terminal in the port of Bar.
In particular, Prime Minister Dritan Abazović, on behalf of the Government of Montenegro, signed the MoU with the two US companies with regard to providing support towards the enhancement of energy infrastructure in Montenegro.
This includes pursuing two energy infrastructure projects:
- the construction and installation of a fixed terminal for the importation of LNG into Montenegro and its further storage, regasification, and transportation;
- the construction and installation of a greenfield gas-fueled thermopower plant in Montenegro, the gas supply of which comes through the LNG terminal.
According to the MoU, the LNG terminal would consist of an offloading pier for imports of LNG, storage facilities for LNG, and a regasification facility directing the gas into a short pipeline to the nearby thermopower plant.
As explained, Enerflex contemplates that the offloading pier would be able to handle 25,000 bbl per hour and the storage facility would have an approximate capacity of 250,000 bbl. These dimensions are to be refined in further discussions between the Montenegrin government and Enerflex.
Furthermore, the parties expressed their intention that the LNG terminal and power plant be considered “projects of national interest“ under the laws of Montenegro thereby permitting accelerated processing of related proposals by the US parties but with necessary transparency and final approval by the Parliament of Montenegro.