June 17, 2022
June 17, 2022
Montenegro’s main sea port, the Port of Bar, has signed a memorandum of understanding with Singapore-based LNG Alliance on the construction of a liquefied natural gas (LNG) terminal and a 100 MW gas-fired power plant. The signature comes just months after a similar document was signed between LNG Alliance and state power utility Elektroprivreda Crne Gore (EPCG).
The Port of Bar has signed an MoU with LNG Alliance Pte Ltd, which is interested in investing in an LNG terminal and a gas-fired power plant with a capacity of at least 100 MW, said Ilija Pješčić, CEO of the company operating the port, Vijesti reported.
LNG Alliance builds terminals around the world under turnkey contracts.
EPCG signed an MoU with LNG Alliance in November 2021
Pješčić said that EPCG would be a partner on the project, adding that LNG Alliance itself is prepared to invest USD 200 million and employ between 70 and 100 people.
As recently as last month, the company’s vice-president for investment and development projects, Dhananjoy Kumar Das, met with Montenegrin Deputy Prime Minister and Minister of Capital Investments Ervin Ibrahimović.
The MoU signed with EPCG envisages a feasibility study and a study of environmental and social impacts of gas power plants near the city of Bar and the capital Podgorica that would help develop technical and commercial solutions.
EPCG plans the construction of three gas-fired power plants
EPCG said at the time that LNG Alliance would ensure the necessary conditions for investing in the power plants. Gas that would be used in electricity production would come from a terminal at the Port of Bar, which would be built by LNG Alliance, EPCG said in a statement at the time.
The Montenegrin power utility promptly invited bids in December to select a consultant to produce a study detailing technical solutions and a pre-feasibility study for gas-fired power plants near Bar, Podgorica, and Pljevlja. The construction of a gas power plant near Bar was also announced by the country’s former prime minister, Zdravko Krivokapić.
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