Japan’s energy major JERA has taken steps to augment its liquefied natural gas (LNG) arsenal by striking a deal with the government of Montenegro to look into the development of an LNG terminal and an associated gas-fired plant, which has the potential to establish a new energy hub in the Western Balkans, fortifying energy security not just in this country but also i n Southeast Europe .
Thanks to a memorandum of understanding (MoU), signed at an event in Italy, the duo will explore the development of a liquefied natural gas terminal and an associated gas-fired plant in the country by conducting a comprehensive feasibility study, covering the technical, commercial, and financial viability of the proposed project.
Admir Šahmanović , Minister of Energy and Mining of the Montenegro Government, highlighted: “We signed a Memorandum of Understanding with the Japanese company JERA, a renowned and credible global player in the field of energy and liquefied natural gas. Japan is a country recognized for its innovations and advanced technologies, and this cooperation provides Montenegro with access to knowledge and experience essential for the further development of our energy sector.
“The planned feasibility study will provide us with concrete data on potential locations and the viability of liquefied natural gas development in Montenegro, thereby creating the basis for making strategic decisions in the interest of our country’s energy security and sustainable development.”
As a result, this study is anticipated to lay the groundwork for potential project implementation agreements. This collaboration is said to demonstrate JERA’s role as a reliable partner dedicated to developing reliable and efficient infrastructure that supports Montenegro’s strategic energy ambitions.
The partnership is expected to enable Montenegro’s government to leverage JERA’s expertise to enhance its national energy mix, strengthen energy security, support decarbonization goals, and position the country as a “major” energy hub in the Western Balkans.
Steve Winn , Chief Global Strategist at JERA, emphasized: “As a reliable energy partner committed to reliable, sustainable energy development, our extensive experience in LNG infrastructure and proven track record of delivering complex international energy projects, uniquely position us to help Montenegro achieve its strategic energy objectives.
“We look forward to supporting Montenegro’s vision for enhanced energy security and decarbonization with realistic, economically viable solutions.”
The deal with Montenegro comes shortly after JERA inked a letter of intent with Glenfarne Alaska LNG, a subsidiary of Glenfarne Group, for LNG from the latter’s proposed project in Alaska.