Argent LNG and the government of Albania have signed a non-binding memorandum of understanding (MoU) to evaluate development of an onshore LNG storage and regasification terminal on the Albanian coast with capacity of up to approximately 5 MMtpa.
The project is expected to connect with the Trans Adriatic Pipeline (TAP), Ionian Adriatic Pipeline (IAP) and Fier–Vlorë gas corridor, potentially providing an additional route for natural gas supplies across the region.
The agreement builds on MoUs Argent signed with Ukraine’s Naftogaz Group in July and Romania’s Transgaz in August as the company develops a regional supply network anchored by U.S.-sourced LNG.
Argent is developing a proposed 25-MMtpa LNG export terminal at Port Fourchon, Louisiana. Development of the Albanian facility would be coordinated with the company’s targeted first LNG cargo from Port Fourchon in 2030.
Under the latest MoU, Argent and Albania will establish a joint working group to evaluate potential sites, project feasibility, technical interconnections and financing.
The MoU does not include binding supply, financing or construction commitments, which would require subsequent agreements between the parties.
source: worldoil.com