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Washington Identifies Montenegro As Possible LNG Partner

Washington identifies Montenegro as possible LNG partner

Bar, Montenegro (PortSEurope) February 12, 2020 – Speaking to the RTCG broadcaster in Montenegro, US secretary of state responsible for energy from fossil sources Steven Winberg said that the country could become a hub for the export of U.S.-produced natural gas. Winberg was quoted as saying that Bar port in Montenegro was ideally placed to accommodate liquified natural gas (LNG) and could represent the hub
for transportation to other countries. Talks between US and local companies on potential cooperation in the field of storage and distribution of natural gas from the United States (USA) in Montenegro are due to start soon. “The conclusion of the two administrations is that there are all prerequisites for successful business cooperation between the two countries’ economic entities, but for a concrete agreement it is necessary for investors to find common interest,” State Secretary at the Ministry of Economy of Montenegro Nikola Vujovic said. “That port is ideally positioned to accept liquefied gas and would be a hub from which to transport liquefied gas to other countries. It is a deep-water port and can accommodate ships coming from the United States. “We use containers that store liquid gas. After the ship arrives, we transfer the containers to trucks or to the train and transport them where necessary. Maybe we will build pipelines over time,” Vinberg said. In 2019, the U.S. saw LNG exports increase by 60%, but reduced demand and a potential global economic turndown could threaten this situation. The U.S. is forecast to become the biggest global LNG exporter by 2024. Washington has been seeking to develop exports and southeast Europe is seen as having the capacity and political will to develop facilities to import U.S. LNG and deliver into European markets. Of particular interest is the Greek port of Alexandroupolis. The port is currently operated by state-owned Alexandroupolis Port Authority and an as-yet-undetermined sale, whether concession or equity based, is attracting significant interest, including from Washington. The Greek utility Gas Trade SA is operating the Alexandroupolis Independent Natural Gas System (INGS) project, a modern, cutting-edge technology FSRU project which comprises an offshore floating unit for the reception, storage and regasification of liquefied natural gas (LNG) and a system of a subsea and an onshore gas transmission pipeline through which the natural gas is shipped into the Greek National Natural Gas System (NNGS) and onwards to the final destination consumers. Copyright (C) PortSEurope. All Rights Reserved. 2020.

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