Excelerate, Snam plan to build gas pipeline in Albania

Texas-based floating LNG player Excelerate Energy is joining forces with Italian energy firm Snam to build a natural gas pipeline in Albania.

Excelerate has earlier this year signed a memorandum to conduct a feasibility study for the potential development of an LNG import terminal in the Port of Vlora in Southern Albania.

The project would involve converting Albania’s 98 MW Vlora thermal power plant to LNG but also the construction of a regasification terminal.

The US company said on Thursday it signed a new memorandum of understanding in Tirana with Snam and Albanian state-owned gas firm Abgaz.

Moreover, the trio would explore potential cooperation for the construction of a natural gas pipeline from the 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,” the statement said.

Snam and Albgaz could potentially operate and maintain the future pipeline.

The planning would begin immediately with representatives from each company forming a coordination team, the statement said.

“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,” Steven Kobos, chief executive of Excelerate, said.

“Together with Snam and Albgaz, we recognize the potential impact this pipeline can have for the region,” he said.

Most Popular

Technip Energies wins contract for Eni’s Coral Norte FLNG

France-based LNG engineering giant Technip Energies has won a contract for preliminary work on Eni's second FLNG project in Mozambique, Coral Norte (Coral North).

Victrol: LNG London hits bunkering milestone

The Shell-chartered inland bunkering vessel LNG London, owned by a joint venture of Belgium's Victrol and France's Sogestran, has reached a new operational milestone.

Atlantic LNG shipping rates dip, European prices up

Atlantic spot LNG shipping rates decreased this week, marking the largest week-on-week decline since January.

More News Like This

Excelerate to install reliquefaction unit on Brazilian FSRU

US FSRU player Excelerate Energy has signed a deal with Brazil’s state-owned energy firm Petrobras to install a reliquefaction unit on the FSRU Experience, located in Brazil's Guanabara Bay.

Excelerate’s FSRU launched in South Korea

South Korean shipbuilder HD Hyundai Heavy Industries has launched Excelerate Energy’s new floating storage and regasification unit (FSRU).

Italian FSRU operator launches small-scale LNG service

Italy’s OLT Offshore LNG Toscana, the operator of the FSRU Toscana, has launched its small-scale liquefied natural gas service, enabling small vessels to load LNG at the FSRU.

Excelerate buys GasLog LNG carrier

US FSRU player Excelerate Energy has purchased a 2007-built steam liquefied natural gas (LNG) carrier from GasLog Partners, a part of Greek LNG shipping firm GasLog, according to brokers.