Page 154 - SE Outlook Regions 2024

The LNG terminal would have an unloading dock for LNG imports, LNG storage, and a regasification unit connected with a short pipeline to the planned thermal power plant.
Enerflex anticipates that the terminal would be able to receive 25,000 barrels of LNG per hour and that the storage facility would have an approximate capacity of 250,000 barrels. The cost of construction is estimated at between €130mn and €250mn.
Close to the LNG terminal, the Montenegrin government and the two US companies plan to build a gas-fired combined cycle power plant with a capacity of between 240 MW and 440 MW. Construction would cost from €200mn to €500mn depending on the capacity.
The government will provide land for the terminal and the power plant, which should be completed by the end of 2025.
Another project in the energy sector is the 118-MW wind farm project, for which renewable energy investor Alcazar Energy has acquired rights and plans to invest $200mn. The Bijela project is part of Montenegro’s 2040 national development strategy and is seen as a major investment for the country and a significant contribution towards reducing its greenhouse gas emissions.
The company said it has entered into a partnership with Montenegrin companies Simes Inzenjering and Sistem MNE who were the original greenfield developers of the project.
The project is expected to reach its financial close in the first quarter of 2025 with construction commencing in early 2025.
7.9 Energy & Power - Romania
Romania slashed one fifth of coal use in less than two years. The country’s primary energy intake decreased slightly to 33.0mn tonnes of oil equivalent (toe) in the 12-month period to September 2023, 2.2% (-0.73mn toe) less compared to 2021, according to the statistics office INS.
The lower use of primary energy resources matched the slashing of the amounts of coal that was burnt in the power plants, which was quite feasible as the high prices significantly depressed the domestic demand for electricity (by -11.9% compared to 2021).
Romania's self-sufficiency ratio remained virtually flat at just above 54%.
The export of electricity and petroleum products increased compared to 2021 meaning that the net use of primary energy resources actually decreased slightly more than the 2.2% contraction of the gross intake.
The use of coal contracted by 20.5% y/y (-0.75mn toe) to only 2.9mn toe in the 12-month period to September 2023, which matched the 17.4% y/y decline in the output of the thermal power plants.
154 SE Outlook 2024 www.intellinews.com