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Albania, Argent LNG Sign Pact to Develop Adriatic LNG Import Terminal

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Albania and US LNG developer Argent LNG signed a memorandum of understanding on Wednesday to study a large-scale import terminal on the Adriatic coast and strengthen gas supplies to the Western Balkans, potentially helping meet Ukraine's energy needs.

The proposed facility would have regasification capacity of up to 5 million metric tons a year, alongside significant LNG storage, Argent LNG said in a statement.

The project is intended primarily as a regional energy-security hub rather than to serve Albania's domestic market.

The terminal could connect with the Trans Adriatic Pipeline, the planned Ionian Adriatic Pipeline and the Fier-Vlore gas corridor, allowing LNG delivered to Albania to be stored and transported to markets across southeastern Europe.

Albania's electricity system relies on renewable power, limiting the country's need for large volumes of natural gas.

Its location on the Adriatic coast could still make it an entry point for seaborne LNG into neighboring countries seeking to diversify supplies.

The project is also being positioned as part of efforts to support Ukraine's energy security. Argent LNG and Albania said potential reverse-flow and gas-swapping arrangements could allow US LNG delivered through the Adriatic and Western Balkan network to reach Ukrainian markets.

The project timeline is expected to be aligned with Argent LNG's target to ship its first cargo from its planned 25 million-mt-per-year export terminal at Port Fourchon, Louisiana, in 2030.

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