Albania and Argent LNG Partner on Regional Energy Security Terminal
Argent LNG and Albania have signed a memorandum of understanding (MoU) to evaluate the development of an onshore LNG storage and regasification terminal on the Albanian coast.
The proposed terminal, with regasification capacity of up to approximately 5 million tonnes per year (tpy), would primarily serve as a strategic regional energy security asset. Its purpose is to provide flexible LNG storage, regasification, and supply capabilities that can strengthen security of supply across the Western Balkans and Southeastern Europe.
The terminal would leverage Albania's strategic Adriatic location and existing gas infrastructure to provide greater flexibility and resilience to neighboring markets. It would be interconnected with the Trans Adriatic Pipeline (TAP), the Ionian Adriatic Pipeline (IAP), and the Fier, Vlorë gas corridor, allowing LNG received on the Albanian coast to be stored and delivered to multiple markets across the region.
The project aims to establish an additional source of natural gas supply and provide the region with greater capacity to respond to changing energy needs. It would also contribute to the energy security of Ukraine through potential reverse-flow, swap, and other regional gas market arrangements.