First Adriatic Oil & Gas Summit Kicks Off

The inaugural two-day Adriatic Oil & Gas Summit (AOG) has started today in Budva, Montenegro.

Held under the patronage of the Ministry of Economy of Montenegro and the Ministry of Economy and Energy of Albania, the summit will focus on the offshore oil and gas investment opportunities within three countries in particular: Montenegro, Croatia and Albania.

Day one of the summit is reserved for the discussions on the development of offshore blocks in Croatia and Montenegro and up-to-date development plans for Albania’s hydrocarbon resources.

Croatia’s oil transportation network and its capacity for growth will be discussed by Gordana Sekulic, Development and Planning Department Manager at JANAF.

The first day of the summit will also see Mladen Antunovic, Managing Director of LNG Hrvatska, providing an update on Croatia’s path towards becoming liquefied natural gas (LNG) importer through the proposed LNG terminal on the island of Krk.

Day two will take a broader perspective, analysing the geopolitics of the region and the Western Balkan’s role in the transit of oil and gas resources into the EU. The participants will also discuss strategy insights into the development of a regional oil and gas industry from analysing and quantifying resources, latest technology for extraction, robust and sensitive management of the environment, as well as regulatory and financial frameworks for a maturing sector.

Ricardo Khoury, Director of Environment at ELARD Group, will look into the strategic environmental assessment for hydrocarbons exploration and production activities in offshore Montenegro.

The second day is also reserved for a panel discussion on creating a synergised gas transportation network in the Adriatic region.

”The timing of the Adriatic Oil & Gas Summit is ideal in enabling us to engage with the international oil and gas community,” Montenegro’s Deputy Minister of Economy Vladan Dubljevic said. ”We are looking forward to interacting with them directly to carefully explain what our region has to offer as well as to discuss the many challenges that we have to face as our industry develops. The Summit offers all companies the perfect opportunity to enter the market at the start of our journey.”

Image: Boka Group/Twitter