The Ministry of Mining, Oil and Gas has announced a tender for the adaptation of oil derivatives storage tanks at the Port of Bar. The value of the works is EUR 1.47 million excluding VAT, or approximately EUR 1.77 million with VAT included.
The tanks, with a total capacity of 17,600 m³, are located at the Terminal in Port Bar and are designated for storing mandatory oil derivatives reserves.
The technical deadline for the completion of the works is 270 days from the start date.
“This project plays a key role in strengthening the energy stability, security, and independence of Montenegro. Its implementation will contribute to the country’s resilience against energy crises, ensuring the stable operation of the economy and the protection of citizens’ interests. By strengthening energy infrastructure, Montenegro is laying the foundation for a secure and sustainable future in line with European standards,” stated the Ministry.
The Ministry invited all qualified companies to apply for the public call and contribute to the realization of this significant project, which is crucial for enhancing the country’s energy security and development.
Bids must be submitted by January 27, no later than 10 a.m.
The issue of mandatory reserves is considered a key criterion in Montenegro’s EU accession negotiations under Chapter 15 – Energy. The reserves will be used in the event of risks or disruptions in the supply of oil derivatives.
The government plans to store oil reserves in the state-owned Montenegrobonuses tanks in Bar, with the first quantities of oil reserves to be purchased in 2025. As recently stated by Minister of Mining, Oil, and Gas, Admir Šahmanović, the funds for these initial reserves have already been secured in the budget.
On Tuesday, the Montenegrin Parliament passed the Law on Oil Derivative Supply Security, which stipulates that EUR 44.5 million will be needed to establish oil reserves from now until the end of 2028.
Of this amount, EUR 7.5 million is provided this year as a non-repayable grant from the European Union to address the energy crisis, with the remaining funds to be secured through a special fee of three cents added to the retail price of fuel, paid by citizens and businesses.
The responsibility for establishing mandatory reserves under the proposed law will rest with the Hydrocarbon Directorate and any importer of oil derivatives who imports 15,000 tons or more of unleaded gasoline and/or gas oil.
