Italy faces an electricity deficit 20 times greater than Montenegro’s total annual production, according to Montenegrin Prime Minister Milojko Spajić.
He emphasized the importance of selling Montenegrin electricity in Italy as if it were produced locally, removing barriers to the large Italian market and creating significant opportunities for exports and investment in Montenegro’s energy sector.
The Prime Minister noted that the memorandum of understanding will pave the way for at least a threefold increase in trade volume, provide clearer price signals for new investments, and directly contribute to enhanced energy supply security.
The memorandum on connecting the electricity markets of Italy and Montenegro was signed yesterday in Rome.
Energy and Mining Minister Admir Šahmanović highlighted that the agreement will enable the continuation of construction of the subsea cable linking Montenegro to Italy.
