Montenegro: Government signed MoU on the construction of LNG terminal and gas-fired plant, Uncategorized
Montenegrin Government has signed a Memorandum of Understanding on the construction of the liquefied natural gas terminal and gas-fired power plant in Bar with USbased companies Enerflex Energy Systems and Wethington Energy Innovation.
The project will help ensure the country’s energy security, the government said in the statement. It will take two years from the start of the construction to the facilities becoming fully operational, according to Prime Minister Dritan Abazovic.
Enerflex estimates that the investment in the LNG terminal project would be between 130 and 250 million euros. According to the initial proposal, the offloading pier would be able to handle 25,000 barrels of oil equivalent per hour. The storage facility would have a capacity of 250,000 barrels of oil equivalent.
The MoU also envisages the construction of a combined cycle gas-fired power plant with a capacity between 240 and 440 MW in the vicinity of the terminal. Total investment in the plant should amount between 100 and 500 million euros, depending on the installed capacity. The power plant will use General electric equipment.