Singapore-based project developer LNG Alliance has partnered up with Montenegro’s state-owned power firm EPCG to look into LNG and power projects and a dedicated LNG import terminal in the Port of Bar.
Specifically, EPCG signed a memorandum of understanding (MoU) with LNG Alliance on 8 December 2021.
According to the MoU, LNG Alliance will, in cooperation with EPCG, conduct a detailed feasibility study. The goal is to determine the relevant technical and commercial solution for the construction of gas-fired power plants in Bar and Podgorica.
LNG Alliance provides complete integrated solutions based on a turnkey principle; starting from defining the concept, developing and implementing the project; all the way to the ownership over tangible assets for LNG infrastructure, gas distribution, and generation of electricity from gas. Furthermore, it is working with its investment and operating JV arm, Aslan Energy Capital.
Firstly, the partners will establish an adequate and feasible techno-commercial model. Then, Alliance will ensure necessary conditions for investments in the development of the gas-fired power plants. This would be a matter of further discussion and planning to ensure the needed LNG import infrastructure for the construction of the gas-fired power plant.
The fuel for both plants would be procured from the dedicated LNG import terminal in the Port of Bar. Moreover, LNG Alliance would be responsible for its construction.
The parties will analyse several different options for the transport of LNG from Port of Bar to Podgorica in relation to the above, including a gas pipeline. EPCG would run the management and operations of the gas-fired power plants.
“We invest into new sustainable projects and develop partnership for a greener future. We are aspiring to create clean, affordable, and reliable energy security in Montenegro!” said EPCG and LNG Alliance in a collective statement.