Podgorica, (MINA-BUSINESS) – Montenegro currently has a stable supply and still reasonable prices of petroleum products, which is a significant achievement, said the Ukrainian Ambassador to Podgorica, Oleh Herasymenko.

He met today with the Minister of Energy and Mining, Admir Sahmanovic, to discuss current challenges in the energy sector, as well as the importance of a stable and sustainable energy system in modern geopolitical circumstances. 

Herasymenko congratulated Montenegro on its responsible and timely actions in managing energy policy during a period of a global energy crisis, which threatens to persist. 

Sahmanovic presented the key activities of the Ministry of Energy and Mining over the past year, with a particular focus on aligning domestic legislation with the European Union acquis, which sends a clear signal to investors that the business environment in Montenegro is stable.

He highlighted the importance of the process of integrating the electricity market with that of the European Union, recalling the signing of a Memorandum of Understanding with Italy. 

Sahmanovic added that the implementation of the project to build a second submarine cable between Montenegro and Italy is continuing, which will double transmission capacity and further strengthen Montenegro’s role as a reliable energy partner for both the region and the European Union.

The two officials expressed to continue cooperation and exchange experience in the energy sector, particularly in strengthening energy system resilience and enhancing energy security.