NewsMontenegro is open to investments from Azerbaijan

Montenegro is open to investments from Azerbaijan

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Montenegro is open to investments from Azerbaijan in the development of green energy in the country, said Deputy Prime Minister and Minister of Capital Investments Ervin Ibrahimović in an interview with Trend news agency. He also pointed out that Montenegro is ready to become a transit country for the delivery of gas from Azerbaijan to Europe.
“Considering the potential of Montenegro in the field of wind, solar and hydropower, we are working on the development of the industry of renewable energy sources in our country and we are very open to foreign investments, especially Azerbaijani investors,” said Ibrahimović.
He pointed out that not only productive partnership, but also friendly relations have been established between Azerbaijan and Montenegro.

“We are happy to have Azerbaijan as our friend and we certainly appreciate all the support we can get from our friends, and one of them is gas that would ensure the energy independence and security of Montenegro. We have been closely cooperating with Azerbaijan for many years. In particular, we signed many memoranda of understanding with the state and local companies. We are ready to enable the construction of a gas pipeline on the territory of Montenegro, through which gas from Azerbaijan will continue to reach European countries,” said Ibrahimović.

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He also pointed out that Montenegro is ready to become a transit country for the delivery of gas from Azerbaijan to Europe.

In the meantime, as Trend news agency reports, Montenegro can get access to Azerbaijani gas through the Ionian-Adriatic gas pipeline. It Is planned to connect the IAP to the Trans-Adriatic gas pipeline, which is part of the Southern Gas Corridor, for the transport of gas to the countries of Southeast Europe.

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The gas pipeline with a total length of 516 kilometers will stretch from Albania through Montenegro and Bosnia and Herzegovina to Croatia. The capacity of the gas pipeline will be 5 billion cubic meters of gas per year.

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