“This year, Jugopetrol will actively participate and try to evaluate the potential of Montenegro in generating electricity from renewable sources, because it is an area in which we are interested in investing”, Antonis Semelides, the executive director of the company, said in an interview with Dnevne Novine.
He adds that the business environment in the country is well-placed, but that, although it is small, the Montenegrin market does not allow sitting idly.
He explains that the planned transformation of the company, through continuous investment and workforce restructuring, is progressing very well. Jugopetrol has defined the main business and development goals for the next period and it is already working on their implementation, Semelides says.
Hellenic Petroleum Group is aimed at establishing and maintaining high professional standards in every country in which it operates, so this applies to Montenegro, as well.
“We are very committed to sustainable development, we respect people and environment, the responsibility towards society”, he adds.
This year, Jugopetrol’s primary focus will be the successful implementation of the rebranding project for its petrol stations and the modernization of the oil terminal in Bar, in terms of environmental protection and safety, Semelides points out. The company will surely invest in its employees, as the most valuable resource it has. The rebranding project is already being implemented.
The first three petrol stations have been reconstructed and now the company is working on another three. The entire network is expected to be reconstructed by the end of 2019.
Semelides says that Jugopetrol wants to be part of the wider energy sector of Montenegro and has an important role in this process. For example, in Greece, the majority owner of the shares – Hellenic Petroleum, has for a number of years not limited its activities to oil processing and trade in petroleum products, but goes into the wider energy sector.
More specifically, the group is involved in the distribution of natural gas through pipelines connecting South East Europe, TPG storage, natural gas production and renewable sources, such as wind farms and photovoltaic panels, Semelides says.
Likewise, “we believe that Montenegro has significant growth potential in the wider energy sector, especially when it comes to the production of electricity from renewable sources. Our plan is to be actively involved this year and to evaluate this potential, possibly through cooperation with other local companies” he adds.
“We truly believe that Montenegro has significant growth potential and important development opportunities. Although Montenegro is a small country, its business environment is quite active and competitive, with a number of international companies that invest in this country and are competitive on the market, in addition to local companies. The main fields of investing are services, real estate and tourism”, he concludes.
