July 16 (SeeNews) - US-based liquefied natural gas (LNG) company Excelerate Energy said it has signed a Memorandum of Understanding (MoU) with Italian energy infrastructure company Snam and Albanian gas operator Albgaz for potential cooperation for the construction of a natural gas pipeline in Albania.
The three companies will explore the potential construction of a natural gas pipeline from Vlora and other natural gas infrastructure opportunities in Albania, which could potentially supply underground gas storage in the country, Excelerate Energy said in a press release on Thursday.
Snam and Albgaz's Albanian Gas Service Company could potentially operate and maintain the future pipeline, according to the press release.
The planning is expected to begin immediately with representatives from each company forming a coordination team, Excelerate said.
In March, Excelerate signed an MoU with ExxonMobil LNG Market Development Inc and the Albanian government to conduct a feasibility study for the potential development of an LNG import terminal in the port of Vlora.
Snam holds a 20% stake in the Trans Adriatic Pipeline (TAP), which carries natural gas from the Shah Deniz field in the Azerbaijan sector of the Caspian Sea to markets in Europe. Connecting with the Trans Anatolian Pipeline (TANAP) at Greece's border with Turkey, TAP stretches across northern Greece, Albania and the Adriatic Sea before reaching Italy's coast.
Other TAP shareholders are BP and Azerbaijan’s state company Socar with a 20% stake each, Belgium’s Fluxys with 19%, Spain’s Enagas with 16% and Swiss-based Axpo with 5%.