TODAY.AZ / Business

Montenegro updates on co-op with SOCAR on IAP

06 July 2018 [10:08] - TODAY.AZ

By  Trend

Montenegro is in permanent communication with the officials of Azerbaijan and the representatives of the state oil company SOCAR on the implementation of the Ionian-Adriatic Pipeline (IAP) project, Economy Minister of Montenegro Dragica Sekulic said in an interview with Trend.

"We are in permanent communication with the officials of your country and the representatives of SOCAR, whose advisory support relating to the realisation of this project is very important, bearing in mind their rich experience in gasification projects," said the minister.

She noted that one of the types of support from SOCAR to Montenegro and to IAP project includes the idea to form a Project Management Unit (PMU), with the aim to establish a network of regional countries which are on the IAP route, and to enable more coordinated and productive cooperation, in order to implement this project faster.

"Formally, the role of SOCAR has still not been precisely defined in the IAP project. As of now, the representatives of SOCAR are members of the PMU, whose formation they initiated themselves, and the plan is, when the project company is founded, for SOCAR to have the role of observer and to only later formally join the company," said the Montenegrin minister.

Further, Sekulic pointed out that thanks to the many official contacts that have been established and the many bilateral agreements signed, and owing to regular meetings on the highest levels, Montenegro and Azerbaijan managed to reach a significant degree of mutual understanding and cooperation.

"The support Azerbaijan provides to Montenegro in the field of energy is particularly important, considering our intent to introduce gas to Montenegro and create the required infrastructure for this energy source. It is a well-known fact that Montenegro is situated on the route of the IAP and that this project has often been the reason behind our visits to Azerbaijan," she said.

The minister noted that the last visit took place in February this year, during the 4th Ministerial Meeting of the Southern Gas Corridor Advisory Council, when it was assessed that IAP is the most viable option for the gasification of Montenegro.

IAP is a proposed natural gas pipeline in Southeastern Europe (SEE) that will stretch from Albania through Montenegro, and Bosnia and Herzegovina, to Split in Croatia. It will be connected with the Trans Adriatic Pipeline (TAP). The capacity of the pipeline will amount to five billion cubic meters of gas per year.


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