Bulgaria and Montenegro are planning to establish a joint company which will enter the Italian energy market.

The information became available after a meeting between the Prime Minister of Montenegro, Igor Luksic, who is in Bulgaria Friday on a one-day official visit, and his Bulgarian counterpart, Boyko Borisov. The energy sector topped the agenda of their talks.

After the meeting, Borisov announced that Bulgaria's National Electric Company, NEK, and the Ministry of Energy, Economy and Tourism were actively working on preparing long-term contracts while Montenegro, which imports electric power, is planning to build a cable to Italy for the transfer of electric energy.

"On the Balkans, Bulgaria is the only country that can export electricity," the Bulgarian PM is quoted saying, adding that two expert groups are starting Tuesday work on the joint company which, if the contracts end up being of mutual benefit, would open the Italian energy market door for Bulgaria.

Borisov also voiced firm support for Montenegro's EU membership.

Luksic stated that the goal of his visit had been Bulgaria's energy potential and its possible use by his country, and that he was now convinced in the mutual interest in intensifying bilateral partnership. He thanked Bulgaria for its EU support.

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