Excelerate Energy, Snam and Albania’s state-owned natural gas transmission operator Albgaz Sh.a have signed a memorandum of understanding (MoU) in Tirana, Albania
The MoU will see the companies co-operate to explore the potential of constructing a natural gas pipeline from the Albanian Vlora Terminal to other natural gas infrastructure opportunities in Albania including underground gas storage.
Excelerate president and chief executive Steven Kobos said “Leveraging our downstream capabilities and working alongside Albania to explore expanding their access to reliable energy, we are able to take an integral step towards energy security for the country. Together with Snam and Albgaz, we recognise the potential impact this pipeline can have for the region."
A specialist in floating LNG regasification, Texas-based Excelerate develops and operates 13 LNG terminals worldwide and the company is placing emphasis on greater integration of services for gas and power customers.
Italian firm Snam is one of the largest energy infrastructure owners and operators in the world and a leading shareholder in the Trans Adriatic Pipeline.
Snam and Albgaz’s Albanian Gas Service Company Sh.A, which maintains the gas transmission network in Albania, could potentially operate and maintain the future pipeline.
Albgaz chief executive Arber Avrami said, "This is a unique opportunity for Albania to co-operate with such big actors that can provide essential knowledge and experience to deliver benefits not only from gas transmission activities, but also to exploit an important natural asset such as Dumrea underground gas storage. This can offer energy security options not only for Albania, but also a reliable energy supply for international gas networks."
The planning is expected to begin immediately with representatives from each company forming a co-ordination team.
Earlier this year, Excelerate, along with ExxonMobil and Albania’s Ministry of Infrastructure and Energy, signed an MoU to conduct a feasibility study for the potential development of an LNG import Terminal in the Port of Vlora in southern Albania.
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