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NewsMontenegro's energy landscape: Collaborative ventures with U.S. investors

Montenegro’s energy landscape: Collaborative ventures with U.S. investors

A recent gathering in Bar marked the inaugural step towards local involvement in overseeing major projects, as representatives from American investors and municipal authorities convened. This meeting, a result of proactive measures by Minister of Energy and Mining, Professor Dr. Saša Mujović, follows the signing of a pivotal Memorandum of Understanding between the former Government of Montenegro and Enerflex Energy Systems, Olin Wethington, and Wethington Energy Innovation companies on May 12, 2023.

Zorana Sekulić from the Ministry of Energy and Mining emphasized that while the Memorandum sets a crucial foundation, it’s merely the starting point in the journey from concept to implementation. Gas, as a recognized energy source, holds strategic importance for Montenegro’s energy landscape, fostering regional energy leadership and facilitating the transition away from conventional fuels.

Sekulić further underscored that gas utilization aligns with EU policies, notably as a transitional fuel with significantly lower greenhouse gas emissions. This aligns with Montenegro’s broader environmental objectives, especially amidst concerns about pollution, particularly in Pljevlja, which ranks as one of Europe’s most polluted cities.

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Olin L. Wethington emphasized the need for a comprehensive understanding of the project’s energy and environmental implications. He stressed that once properly comprehended, the project would adhere to the highest environmental standards and offer significant benefits to the region, including job creation and adherence to EU norms.

Local authorities, however, raised concerns about the project’s impact, particularly regarding environmental and health considerations. Minister Mujović reiterated the paramount importance of protecting citizens’ health and the environment, emphasizing that no investment is worth compromising public well-being.

The meeting concluded with a commitment to ongoing dialogue and cooperation, recognizing the complexity and importance of balancing economic development with environmental sustainability.

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