Bar, Montenegro (Ports Europe) May 16, 2023 – The Montenegro government has signed a memorandum of understanding (MoU) with Enerflex Energy Systems and Wethington Energy Innovation for the construction of a liquefied natural gas (LNG) terminal and a gas-fired power plant. The total investment is €330-750 million depending on the final agreed development.
The port of Bar is the proposed location.
All parties will now start start discussions on the two projects: the construction and installation of a fixed terminal for the import of LNG and its storage, regasification and transpor; and a greenfield investment for the installation of a gas-fired power plant.
LNG terminal
The LNG terminal would consist of an LNG import and storage facility, and a regasification unit. The estimated cost of the terminal is €130-250 million. The operational target date is end-2025.
The memorandum was signed by Prime Minister of Montenegro Dritan Abazović, Phil Pyle, representative of Enerflex Energy Systems, and Olin Wethington, president and chief executive officer of Wethington Energy Innovation. The ceremony was attended by US Ambassador to Montenegro Judy Rising Reinke.
Power plant
A proposed gas-fired combined cycle power plant with a capacity of at least 240 MW and a maximum of 440 MW. The investment would be around €200-500 million, depending on the final specifications.
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