Albania Teams Up with Argent LNG to Build Coastal Gas Terminal
Albania has agreed to build a gas terminal on its coast in partnership with US firm Argent LNG, according to a Memorandum of Understanding (MoU) signed between the two parties.
The terminal will have the capacity to convert up to about 5 million tons of liquefied natural gas (LNG) into gas per year and will also feature large spaces for storing LNG. Albania's Minister of Infrastructure and Energy, Enea Karakaçi, stated that the infrastructure would give the region more opportunities to cope with periods of high energy demand and possible supply disruptions.
The terminal is expected to create a new and more diversified route for energy supply in the region, with Albania serving as a connecting point between the Adriatic and energy markets. The gas could then be sent to other countries in the Western Balkans and Southeast Europe.