ADVERTISEMENT

Albania, Croatia and Montenegro to build pipeline

Food

The new project, which will be linked to the Trans-Adriatic pipeline, will cost around €230 million.

Montenegro, Croatia and Albania have agreed to build a 400-km pipeline, according to a ministerial declaration agreed on Tuesday. The new project, which will be linked to the Trans-Adriatic pipeline, will cost around €230 million ($325 million). Montenegro, with 100 km of the pipeline on its territory, is to invest some €60 million in the project.

The agreement was signed in Zagreb by the Montenegrin Minister for Economic Development Branimir Gvozdenovic, the Croatian Minister for the Economy, Branko Vukelic and the Albanian deputy Minister for Trade, Neritan Alibali. “The declaration comes just at the time when Montenegro is about to adopt a strategy for energy development and evaluate its energy capacities”, Gvozdenovic said. He called on all regional governments to start the realization of the scheme as soon as possible “as there is no time to lose”.

Building the project will facilitate the supply of gas to consumers in Albania and Croatia and will also prepare the ground for providing gas to customers in Montenegro. The Ionian-Adriatic pipeline is considered a regional priority project, which is supported by the energy community of south-eastern Europe and the EU. The project should be finished by 2011 or 2012. (BIRN)

ADVERTISEMENT

Fiscal, monetary policy partnership needed to rein in CPI - ... Analysis

Fiscal, monetary policy partnership needed to rein in CPI - ...

Parliament approves amendment to Competition Act Parliament

Parliament approves amendment to Competition Act

New CEO announced at Codic Hungary Appointments

New CEO announced at Codic Hungary

FAO–Food Bank convoy delivers food to those in need City

FAO–Food Bank convoy delivers food to those in need

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.