The Albanian government and US energy company Argent LNG will study the possibility of building a large onshore terminal for the storage and regasification of liquefied natural gas (LNG) on Albania's coast with a connection to the Trans Adriatic Pipeline (TAP).
Argent LNG, which is developing a 25 million tonnes per year LNG terminal in Port Fourchon, Louisiana, announced the signing of a memorandum of understanding with the Albanian government for a joint assessment of the project.
According to the company, the plan is to connect the terminal to the Trans Adriatic Pipeline (TAP), the Ionian-Adriatic Pipeline (IAP) and the Fier–Vlorë gas corridor. This would allow LNG to be received on Albania's coast, stored, and subsequently supplied to several regional markets.
"This infrastructure will create an additional source of natural gas supply not linked to Russia and provide the region with broader options to respond to changing energy needs," the company said.
The proposed terminal is expected to have a regasification capacity of up to about 5 million tonnes of LNG per year, as well as significant storage capacity. The project is seen as a strategic regional energy hub that would enhance supply security in the Western Balkans and South-Eastern Europe, especially during periods of peak demand, supply disruptions or high market volatility.
Albania's Deputy Minister of Infrastructure and Energy, Erlin Sulaj, said in March this year that the country has good opportunities to receive natural gas via TAP.
"This creates an opportunity to meet domestic natural gas needs, reduce dependence on electricity as the sole energy source and make energy more affordable for households, businesses and industry. We have decided to work on two parallel projects in this direction. The first is the revival of the Vlorë thermal power plant as part of an integrated project connected to the TAP exit point and a floating LNG terminal. The second is the gasification of Korçë, one of Albania's largest cities," he said.
