Spain's Enagas mulls buying stake in Albania's Albgaz

The two companies signed a strategic cooperation agreement in which Enagas has stated its interest in analysing the potential acquisition of a stake in the Albanian gas transmission system operator and in studying joint projects with Albgaz, Enagas said in a statement on Tuesday.

The contract also foresees an assessment of Enagas' participation in natural gas and renewable gas projects currently being carried out in Albania and in the Mediterranean region.

Last year, Enagas and Albgaz signed a memorandum of understanding (MoU) to collaborate on the development of gas infrastructure in Albania.

Enagas holds a 16% 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.