The Montenegrin Ministry of Energy and Mining has launched its third tender for the adaptation and modernization of petroleum product storage tanks at the Bar terminal, owned by state company Montenegrobonus. These tanks are intended for the storage of mandatory oil reserves, with the tender valued at €2.12 million including VAT. Bids are open until October 21.
Previous tenders failed: the first received no offers due to low pricing, while the second was canceled after one bid was disqualified over a minor tax debt and another for lacking a bank guarantee. The increase in the tender’s value reflects rising costs of labor and materials, as well as the need to hire foreign companies with specialized expertise.
Funding for the project comes from a €7.5 million European Commission allocation aimed at mitigating the energy crisis, part of which is dedicated to establishing mandatory reserves and modernizing storage facilities. Revenues for these reserves are collected via a three-cent-per-liter surcharge incorporated into fuel prices, which has generated €8.45 million as of mid-September, with expected total revenue of €11 million by year-end.
The Action Plan for mandatory reserves requires the Hydrocarbons Administration to purchase 14,000–17,000 tons of diesel in 2025, depending on market conditions and storage capacity. With the Bar terminal modernization still pending, Montenegro will need to rent additional storage facilities, either domestically or abroad, to meet its obligations.
Officials emphasized that despite the complex market environment, the state is committed to ensuring energy security, protecting citizens’ interests, and maintaining stable fuel supply.
