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

Shell adds another LNG carrier to its fleet

A unit of UK-based LNG giant Shell has added another chartered liquefied natural gas carrier to its fleet.

Chevron, China’s ENN seal second LNG SPA

US energy giant Chevron has signed a second LNG sales and purchase agreement with Chinese independent gas distributor ENN.

CMA CGM, Evergreen, HMM, and Maersk eye LNG-powered containership orders

France's CMA CGM, Taiwan's Evergreen, South Korea's HMM, and Denmark's Maersk are all looking to order LNG dual-fuel containerships at yards in China and South Korea, according to shipbuilding sources.

More News Like This

Finland’s FSRU to be offline for August-October maintenance

Gasgrid's FSRU-based LNG import terminal in Finland's Inkoo will be offline until October due to a scheduled drydock visit by Excelerate Energy’s 150,900-cbm FSRU Exemplar.

Iraq shortlists two firms for LNG import terminal

Iraq has shortlisted two companies to install a floating storage and regasification unit (FSRU) at the Khor Al-Zubair port in Basra, according to Iraq's oil ministry.

Excelerate working to expand Jamaican LNG business

US FSRU player Excelerate Energy has already made some smaller investments to further optimize its recently acquired LNG business in Jamaica, according to CEO Steven Kobos.

Excelerate says purchased LNG carier set for FSRU conversion

US FSRU player Excelerate Energy confirmed on Monday that its recently purchased LNG carrier Excelerate Shenandoah is the company's first FSRU conversion candidate.