April 16 (SeeNews) - Representatives of US firm Wethington Energy Innovation will visit Montenegro in May in order to collect data for drawing a feasibility study on a project for the construction of a liquefied natural gas (LNG) terminal and a combined cycle thermal power plant (TPP) at the Adriatic port of Bar, local media reported.
Wethington officials will visit Bar on May 8-10, energy minister Sasa Mujovic was quoted as saying on Monday by local daily Vijesti. He added that once drafted, the feasibility study will be sent to the government in Podgorica.
In May 2023, Montenegro's previous government signed a Memorandum of Understanding (MoU) with Wethington Energy Innovation and US-based company Enerflex Energy Systems for the construction of the LNG terminal and the combined cycle TPP in the city of Bar, in an attempt to boost the country's energy security.
Since then, however, the project has been facing severe criticism by environmentalists, citizens and local authorities in the city of Bar.
Answering to MPs questions in parliament on Monday, Mujovic was quoted as saying that if all preconditions for environment protection are met, he believes the construction of the LNG terminal is a good option since Montenegro will be able to store LNG and to become a hub around which other countries will gravitate. This will open some new development possibilities for the city of Bar and the country, he argued.
According to the agreement, the US firms intend to propose financing structure for the two projects upon completion of feasibility studies. Based on preliminary information, Enerflex has estimated that the investment in the LNG terminal project would be in the range of 130 million euro ($139 million) to 250 million euro. The combined cycle TPP is planned with a capacity of at least 240 MW and a maximum of 440 MW, located close to the LNG terminal, with General Electric power plant equipment. Total investment in the TPP project is estimated between 200 million euro and 500 million euro, depending on the capacity.
($ = 0.938 euro)