Excelerate Energy, the US specialist in floating LNG import terminals, has signed an accord with two European grid and distribution firms on developing a pipeline and possibly storage to help serve the proposed Vlora import terminal in the Balkans state of Albania.
The project accord was signed between Excelerate, Italian grid operator Snam and Albanian utility Albgaz .
Excelerate in March 2021 signed an agreement with Albania to study the potential of LNG imports and backed by ExxonMobil Corp.
The Excelerate-ExxonMobil proposal was for a feasibility study on developing an LNG import terminal at the Port of Vlora in southern Albania.
Under that accord, Excelerate would conduct a study to explore the potential of an integrated LNG-for-power solution for the Albanians.
This would include developing an LNG import terminal, converting or expanding the existing Vlora thermal power plant and establishing small-scale LNG distribution in Albania and for the surrounding Balkans region.
Under this new memorandum of understanding, Excelerate, Snam, and Albgaz will examine various projects that could also potentially include underground gas storage in Albania.
“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 of Excelerate.
“Together with Snam and Albgaz, we recognize the potential impact this pipeline can have for the region,” added Kobos.
As the leader in floating LNG regasification solutions, Excelerate has delivered 13 LNG terminals worldwide.
Snam is one of Europe's largest energy infrastructure owners and a leading shareholder in the Trans Adriatic Pipeline (TAP) while Albgaz is an Albanian Gas Service Company.
“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,” added Franchin.
Albgaz was founded in January 2017 as a joint stock company with 100 percent of the shares owned by the Albanian state and is a transmission system operator and natural gas distributor.