The Montenegrin section of the planned regional gas pipeline that will be linked to the Trans Adriatic Pipeline (TAP) will cost around EUR 100mn and EU funds could finance up to 80% of the construction costs since the project is of key importance to Europe, radio station AntenaM quoted a government official as saying.
The preparation of a feasibility study has been underway, which is also financed by the EU, deputy economy minister Vladan Dubljevic said. He added that the study will define the pipeline's route through Montenegro and the connections with Albania and Croatia.
The EUR 40bn TAP was selected earlier this year to bring natural gas from Azerbaijan’s Shah Deniz to Europe as an alternative to the Russian gas. TAP will transport the gas via Greece and Albania and across the Adriatic Sea to Italy and Western Europe. In order to connect with the rest of Southeast Europe, one leg of TAP will stretch from Albania through Montenegro and Bosnia to Croatia.
Dubljevic has said earlier that Montenegro estimates it could earn up to EUR 30mn annually in transit fees from the future regional gas pipeline. The final signing of the deal, connected with the planned investment, is expected at the end of the year.
Related Articles
Argent LNG granted export authorisation for Louisiana project
The US Department of Energy (DoE) has granted an export permit to free-trade countries to Argent LNG for its proposed Louisiana project, Reuters reported on July 27. The proposed LNG export ... more
Turkey’s BOTAS increases LNG storage capacity at Marmaraereglisi Terminal
Turkey’s state-run energy firm BOTAS has begun construction of a fourth storage tank at the company’s Marmaraereglisi Terminal in the country’s northwest, Turkish local media Daily Sabah ... more
Turkish LPG carrier set on fire during Russian drone attack
A Turkish LPG carrier docked at the port of Izmail, Ukraine, was hit by a Russian drone during an attack, sparking a fire on the vessel, which has now been extinguished. According to the Maritime ... more