EXCELERATE ENERGY WITH SNAM AND ALBGAS TO WORK ON GAS PIPELINE IN ALBANIA
Excelerate Energy, Snam, and Albgaz signed a Memorandum of Understanding (MOU), in Tirana, Albania, to explore potential cooperation for the construction of a natural gas pipeline from the Albanian Vlora Terminal to other natural gas infrastructure opportunities in Albania.
Under this MOU, Excelerate, Snam, and Albgaz will explore joint solutions, which could potentially supply underground gas storage in Albania, providing crucial energy security to the region.
“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,” stated Steven Kobos, President and Chief Executive Officer of Excelerate. “Together with Snam and Albgaz, we recognize the potential impact this pipeline can have for the region.”
As the leader in floating LNG regasification solutions, Excelerate has delivered reliable, clean energy to markets across the globe, developing and operating 13 LNG terminals worldwide. This MOU is the latest example of Excelerate’s emphasis on greater integration of services for gas and power customers.
Snam is one of the largest energy infrastructure owner and operators in the world and a leading shareholder in the Trans Adriatic Pipeline (TAP). Snam and Albgaz’s Albanian Gas Service Company Sh.A, who maintain the gas transmission network in Albania, could potentially operate and maintain the future pipeline.
“This MOU further strengthens our commitment with Albania initiated four years ago,” said Mario Franchin, Senior Vice President Global Solutions Commercial at Snam. “It marks another important step forward in the development of Albania’s energy strategy and Snam is pleased to share its experience and know-how to support the country and Albgaz in its path in the energy transition.”
Snam is one of the world’s leading energy infrastructure operators and ranks among Italy’s largest listed companies, by market capitalization. Through its international footprint, Snam operates in Albania, Austria, France, Greece, Italy, UAE and UK and has started activities in China and India.
Albgaz owned by the Albanian state operates as a combined operator performing the activity of transmission system operator and natural gas distribution system operator in Albania.
(Source: Excelerate Energy)