Port of Bar preparing to build LNG terminal

Montenegro’s main seaport, the Port of Bar, has signed an MoU with LNG Alliance Pte Ltd. Ilija Pješčić, CEO of Vijesti – the company operating the port – said that LNG Alliance Pte Ltd is interested in investing in an LNG terminal and a gas-fired power plant with a capacity of at least 100 MW.

The signature comes just months after a similar document was signed between LNG Alliance and state power utility Elektroprivreda Crne Gore (EPCG).

LNG Alliance builds terminals around the world under turnkey contracts.

Pješčić said that EPCG would be a partner on the project, adding that LNG Alliance itself is prepared to invest $200 million and employ between 70 and 100 people.

As recently as June 2022, Dhananjoy Kumar Das, the company’s vice-president for Investment and Development Projects, met with Ervin Ibrahimović, Montenegrin deputy prime-minister and minister of Capital Investments.

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 said at the time that LNG Alliance would ensure the necessary conditions for investing in the power plants and that the 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.

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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