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NewsNew energy corridor is a new development opportunity for Montenegro

New energy corridor is a new development opportunity for Montenegro

The opening of a new energy corridor for the region of Southeast Europe within the Southern Gas Corridor is a new development opportunity for Montenegro, announced the Ministry of Capital Investments.

The Deputy Prime Minister for Regional Development and Minister of Capital Investments, Ervin Ibrahimović, is on a two-day visit to Baku, where he is participating in the ninth ministerial meeting of the Southern Gas Corridor Council and the First Ministerial Council for Green Energy. At the beginning of the ministerial session, the Presidents of Azerbaijan and Romania, Ilham Aliyev and Klaus Iohannis, as well as the Commissioner of the European Commission (EU) for Energy and Co-President of the Council, Kadri Simson, addressed the attendees with welcome speeches.

In his address at the ministerial session, Ibrahimović presented the potential and plans of Montenegro when it comes to the energy sector, emphasizing the fact that the green transition is a new global reality, which can also ensure global progress.

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As he pointed out, the strategic framework in Montenegro in the field of energy is defined by the Energy Policy of Montenegro until 2030 and the Energy Development Strategy of Montenegro until 2030.

“Recognizing the obligations that Montenegro has as a signatory to the Paris Agreement and a candidate for membership in the European Union (EU), it is our strategic commitment to base the development of the energy sector on the principles of decarbonization and green energy transition, which means that Montenegro plans its energy development through increasing the share of energy from renewable sources, increasing energy efficiency, modernization of the energy sector and the application of new technologies, as well as the construction of infrastructure facilities for connection with neighboring energy systems”, emphasized Ibrahimović.

He added that considering that Montenegro has significant potential of renewable energy sources, such as hydro potential, wind potential, solar radiation, the priority was and remains the production of renewable and clean energy.

“Thanks to the support of the European Bank for Reconstruction and Development (EBRD), we are working on the preparation of the Law on Renewable Energy Sources, which should create prerequisites for the market mechanism for the inclusion of the private sector,” said Ibrahimović.

As he pointed out, the EU recognized the efforts that Montenegro invests in the harmonization of national legislation in this area, in this sense the Energy Community rated our country as the most successful in this process.

He reminded those present that the ministries of Montenegro, Croatia and Albania responsible for the field of energy launched the initiative for the construction of the Adriatic-Ionian gas pipeline by signing the Ministerial Declaration on September 25, 2007 in Zagreb. Subsequently, Bosnia and Herzegovina joined the initiative.

“With the Adriatic-Ionian gas pipeline project, it is planned to connect the Albanian city of Fiera and the Croatian city of Split, passing through the territories of Montenegro. Also, the implementation of this project, which is an integral part of the Trans-Adriatic gas pipeline, enables the opening of a new energy corridor for the region of Southeast Europe within the Southern Gas Corridor, with the aim of establishing a new direction of natural gas supply from the Middle East and the Caspian region,” the statement added. For this project, a conceptual project has been prepared, financed with grants from the EC through the mechanism of the Investment Framework for the Western Balkans.

Recently, the Ministry raised this issue, after which the Government’s consent was obtained for the formation of a joint regional company, based in Split, which will manage this project. At the end of his address, Ibrahimović concluded that the existing energy crisis, as a new imposed reality, should be used to launch new initiatives for economic cooperation, the exchange of knowledge and experience, and the encouragement of innovations that are the basis of the green transition, because only economically stable people can be a guarantor of political stability of the region, and even of Europe.

Today, Ibrahimovic also met with the Minister of Energy of Azerbaijan, Parviz Shahbazov. The relevant minister discussed the possibilities of expanding cooperation, specifically when it comes to the realization of the construction project of the Adriatic-Ionian gas pipeline, improving the dynamics of project activities.
“In order to improve cooperation, an upcoming meeting was arranged with representatives of the Ministry of Energy of Azerbaijan and SOCAR, the national company for exploration and exploitation of oil and gas, in order to discuss concrete next steps. Also, it was agreed to sign a memorandum on cooperation in the field of energy, after harmonizing the text proposal itself and the necessary procedures,” the announcement states.

Ibrahimović emphasized the importance of stability in the supply of energy in a period of energy uncertainty and in that direction launched an initiative on possible cooperation with the Government of Azerbaijan, which the relevant minister of Azerbaijan accepted and proposed a meeting of representatives of the two ministries on the subject.

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