Critical for Albania’s energy security is the AKTOR Group’s agreement for long-term LNG supply and energy hub development, as emphasized by Albania’s Minister of Infrastructure and Energy, Enea Karakatsi, during the Energy Transition Summit organized by the Financial Times and Kathimerini in Athens.
Karakatsi: “A project of strategic importance”
As he told energygame.gr and Lalela Chrysanthopoulou, this is a critically important project for Albania, concerning not only its energy security but also strengthening connectivity in the broader Southeast Europe region. “We have signed an intergovernmental agreement with the US, and within this framework we selected two American companies to supply LNG from the US and bring it to Albania. Given that the country’s energy mix is based 100% on renewable sources (90% hydroelectric power, 10% solar energy), having baseload capacity, especially when sourced from LNG, is extremely important.
Therefore, this is a project of strategic importance both due to American involvement and because for the first time we will have baseload electricity from American LNG coming to Albania, to be produced at the new natural gas unit located in Vlora in the country’s southwest, which will connect to the Trans Adriatic Pipeline TAP -located 50 kilometers away- via pipeline. This way, we will both generate electricity with LNG and connect to TAP, enabling us to trade natural gas through this pipeline,” he emphasized.
Station in Vlora
Regarding the plan for constructing a Floating Storage and Regasification Unit (FSRU) at Vlora port, he noted: “Certainly, the project also includes developing an FSRU facility to regasify the incoming LNG. As for the implementing entity, as I said, we are advancing this project under the framework of the Intergovernmental Agreement with the US that we have signed. Thus, American companies were selected by the US Department of Energy for LNG supply and infrastructure development.”
Natural gas unit by GEK TERNA & DEPA Trading consortium
“However, there’s also another natural gas unit being developed in Albania by the GEK TERNA-DEPA Trading consortium. What stage is this project at? Is it part of the bigger picture you’re describing?” the journalist asked.
“This is a private investment. Since Albania is a country with 100% renewable energy, I would say we certainly have the capacity to integrate additional power generation units into the system, such as the thermal unit you mentioned. We have agreed to license the project, to give it the green light. It’s an important project for Albania, as it also contributes to diversifying the country’s energy sources, and we as a government promote and support all investments in thermal units,” Enea Karakatsi responded.
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