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DPM Simović: Oil and gas exploration provides citizens with cheaper energy, respecting highest environmental standards

DPM Simović: Oil and gas exploration provides citizens with cheaper energy, respecting highest environmental standards
Published date: 24.10.2019 10:30 | Author: PR Service

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Budva, Montenegro (24 October 2019) – Deputy Prime Minister Milutin Simović opened today the 7th Balkans Petroleum Summit, which takes place on 24 and 25 October at the Maestral Hotel in Budva.

The summit brings together representatives of the governments of the Balkan countries involved in the production and exploration of oil and gas, representatives of oil companies operating in those countries, as well as representatives of national oil companies.

On behalf of the Government of Montenegro, DPM Simović expressed satisfaction with the fact that "Montenegro is recognised as a partner" and the hope that it will soon become "an active member of a group of countries that use their hydrocarbon resources in a responsible and quality manner."

In his address, Deputy Prime Minister Simović recalled the years of dedicated work in this area that resulted in "a legislative framework that provides maximum protection of Montenegro's interests on the one hand and the business security environment for the oil and gas industry on the other". He noted that "the business environment we have created in this area is best illustrated by the presence and interest of renowned global oil companies". 

"The privilege of belonging to a generation that is actively engaged in this issue is really just an obligation more. Hydrocarbons, as a non-renewable resource, are not only ours, and it is our duty to make the potential benefits of their use available for future generations," DPM Simović said and pointed out that we have approached this area "methodically and comprehensively, bearing in mind the two goals. The first is to provide Montenegrin citizens with choices of energy sources, thereby providing them with a cheaper source of energy for heating. The second is the development of regional gas projects, which would contribute to meeting the EU's overall security of supply targets and diversifying Europe's gas supply routes. All of this, I repeat, with respect for the highest environmental standards and best practices in the field of the environment."

"Preserving the environment is our absolute priority," said the Deputy Prime Minister, pointing out that "as a responsible society, we must not neglect any resources we have. Not at all costs, and not contrary to the strictest control criteria, but definitely in a determined, efficient and responsible manner."