Radio Tirana Internacional Live
Radio Tirana Internacional

Economy

Liquid Gas Project can begin in 2023 in Albania

  • 3/23/2021 10:50 AM
Liquid Gas Project can begin in 2023 in Albania

The president of the American company that aims to introduce Liquefied Natural Gas (LNG) in Albania, says that this energy source would meet the energy needs of the country and turn it into a point for its export to other Balkan countries.

Steven Kobos, president and CEO of Texas-based Excelerate Energy, told VOA that the feasibility study for the project is expected to be completed by the third quarter of this year and work is expected to begin in 2023.

Based on the Memorandum of Understanding signed this month between Albania and the American companies ExxonMobil and Excelerate Energy, it is foreseen that the Vlora power plant will be converted to gas, and the possibility of its expansion will be considered.

According to Mr. Kobos, the construction of this natural gas plant would respond to electricity shortages in Albania, which depends to a large extent on weather conditions.

He also said that this is the right solution to use clean energy.

Excelerate Energy Company has experience in the distribution of Liquefied Natural Gas with floating terminals and offers integrated services for the whole process, from infrastructure development to gas supply.

Excelerate has offices in Abu Dhabi, Buenos Aires, Dhaka, Doha, Dubai, Rio de Janeiro, Salem, Singapore, Chittagong and Washington, DC.