Albania aims for LNG terminal - Agreement with American company for project that could supply the Balkans with gas
Albania and the American liquefied natural gas company, Argent LNG, have signed a memorandum of understanding to evaluate the construction of an LNG terminal in the country.
The project envisages an onshore terminal for the storage and regasification of LNG, with a capacity of up to 5 million tons per year. According to the American company, the facility could be connected to the Trans Adriatic Pipeline (TAP), the proposed Ionian-Adriatic Pipeline and the Fier-Vlora gas corridor.
The terminal aims to serve not only the Albanian market, but also the countries of the Western Balkans and Southeast Europe. According to Argent LNG, the project could also create opportunities for supplying Ukraine through regional gas market agreements.
Project financing may involve American institutions, including the US Trade and Development Agency, the US International Development Finance Corporation, and the US Export-Import Bank.
However, the agreement is non-binding and currently does not have a cost estimate, designated location or deadline for the start of construction.
The agreement with Albania follows two other memorandums signed by Argent LNG, with Ukrainian state-owned company Naftogaz in July and Romanian gas operator Transgaz in August.
In July, the U.S. Department of Energy authorized Argent LNG to export liquefied natural gas from the proposed terminal in Port Fourchon, Louisiana, to countries that have free trade agreements with the United States.
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