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Montenegro, The goal is to produce sufficient amounts of energy by implementing a low-carbon energy transition

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The goal of Montenegro is to produce sufficient amounts of energy and to ensure security of energy supply to consumers, with a determination to implement a low-carbon and green energy transition, announced the Minister of Capital Investments, Ervin Ibrahimović.

– Of course, this is a very ambitious goal, not only for Montenegro, but also for a much stronger economy in Europe and the world – emphasized Ibrahimović during the Security of Energy Supply panel at the business forum of the Partnership for Transatlantic Cooperation in the Field of Energy and Climate, which is held in Zagreb.

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The business forum was organized by the Ministry of Economy and Sustainable Development, the Ministry of Energy of the United States of America (USA), the American-Central European Business Association and the Atlantic Council.

Ibrahimović spoke, at a separate bilateral meeting, with the Secretary of Energy of the USA, Jennifer Granholm, and on that occasion the interlocutors exchanged views on the interest of companies from the USA and potential development projects in Montenegro, as well as on the efforts of the competent Ministry to create a favorable business environment for foreign capital and greater inflow of foreign investments in the field of renewable energy sources (RES).

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The meeting, as announced by the Ministry of Capital Investments, was also an opportunity to discuss the state’s activities to create the basis for the construction of an LNG terminal in Montenegro, which will further strengthen the energy sustainability and stability of the entire system.

– Montenegro is determined to follow the European and world trend that recognizes clean energy as a product of special importance, and the environment as one of the most important resources. Recognizing the obligations that our country has as a signatory to the Paris Agreement and a candidate for membership in the European Union, it is our strategic commitment to base the development of the energy sector on the principles of decarbonization and green energy transition – emphasized Ibrahimović.

He added that when considering the possibility of implementing a low-carbon energy transition, it should be borne in mind that Montenegro has significant RES potential – hydro potential, solar radiation potential, wind potential, as well as biomass potential.
– In the context of connecting with neighboring energy systems, and bearing in mind that natural gas will continue to be an important source of energy, as well as the need to diversify energy sources, the prerequisites are being created for supplying Montenegro with natural gas via the Ionian-Adriatic gas pipeline and using its own gas reserves from the Montenegrin undersea – emphasized Ibrahimović.

He reminded those present that Montenegro is participating in the implementation of the Ionian-Adriatic gas pipeline project, which is being implemented by Albania, Montenegro, Bosnia and Herzegovina (BiH) and Croatia.

As he pointed out, given that the estimated investment costs of the construction of the Ionian-Adriatic gas pipeline in Montenegro amount to around EUR 210 million, financial support for the implementation of this project would be of great importance for our country.

Ibrahimović underlined the importance of the Partnership for Transatlantic Cooperation in the Field of Energy and Climate as an international initiative of particular importance in the field of energy supply and energy security of our countries.

In addition to the Montenegrin delegation, high officials and heads of delegations from the United States of America (USA), Poland, Slovenia, Hungary, North Macedonia, Lithuania, Ukraine, and Romania took part in the work of the ministerial meeting.

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