A new tender for the adaptation and modernization of the petroleum products reservoir in Bar, including complete equipment, will be announced next week, in mid-April, according to the Ministry of Mining, Oil, and Gas.
The tender, initially issued in late 2023, received no bids by the deadline in February 2024. The ministry expects that the works will be completed by early 2026, assuming a qualified bidder is found.
The new tender will be published on the Montenegrin electronic public procurement portal, ensuring international participation. Previous interest in the project came mostly from regional companies, due to the specific and complex nature of the work.
The adaptation project is expected to take up to nine months, though it may be completed sooner. The work’s complexity, security requirements, and the operational needs of the terminal contribute to this timeline.
The Ministry also noted that Montenegro plans to store its mandatory petroleum reserves in the state-owned Montenegrobonus reservoirs in Bar, with a budget of 1.5 million EUR allocated for modernization. This is part of the EU-supported efforts to secure energy supply and meet the legal requirements for energy storage.
In December 2023, the Assembly passed the Law on the Security of Supply of Petroleum Products, which mandates the creation of oil reserves in case of supply interruptions. The Ministry is working with companies like Jugopetrol, Ina Montenegro, and Petrol Montenegro to form these reserves.
Additionally, the newly established Advisory Board for Petroleum Product Supply Security, chaired by Minister Admir Šahmanović, held its first meeting. The board discussed market monitoring, ensuring supply to Montenegro and EU/EC members, maintaining reserves, and preparing a crisis plan.
