Montenegro has taken a significant step towards enhancing its energy sector by formalizing a cooperation agreement with the United Arab Emirates (UAE). This agreement, presented by Minister of Energy and Mining Admir Šahmanović in the Montenegrin Parliament, is aimed at securing essential technology and financial resources necessary for the development of large-scale energy projects in the country.
Šahmanović emphasized that while Montenegro possesses ambitions and natural energy resources, it currently lacks sufficient domestic capital and expertise to independently execute major energy initiatives. The cooperation is intended to attract experienced partners capable of transforming innovative ideas into tangible energy projects.
The agreement specifically targets projects that Elektroprivreda Crne Gore (EPCG) has been working on for years but has struggled to advance due to financial and technological constraints. The minister highlighted Montenegro’s goal of becoming a regional energy hub, capable of supplying affordable green energy to the European Union, which could provide a strategic advantage in the region.
However, the agreement has faced criticism from opposition figures, notably Milan Knežević, who described it as tantamount to an occupation or colonization of Montenegro’s energy infrastructure. Knežević called for the Constitutional Court to review the agreement, framing it as a potential betrayal of national interests and expressing concerns regarding exemptions from standard public procurement and concession regulations.
In response to these criticisms, Šahmanović defended the agreement, pointing out that it was initially adopted when members of the opposition were part of the ruling coalition. He reiterated that there are no risks of losing control or sovereignty over national resources. Instead, he characterized the partnership with the UAE as a practical approach to addressing Montenegro’s financial and technological challenges while accelerating progress in its energy sector.
