Excelerate Energy LP, ExxonMobil LNG Market Development Inc., and the Republic of Albania have signed a memorandum of understanding (MOU) to conduct a feasibility study for the potential development of an LNG terminal in the Port of Vlora, southern Albania. The integrated LNG-to-power project would include an LNG regasification terminal, converting or expanding the existing Vlora thermal power plant, and establishing small-scale LNG distribution in Albania and surrounding Balkans nations.
Home to eight major river systems, Albania relies on hydropower, which can become unreliable during droughts, to supply energy to its 2.8 million residents.
Excelerate expects a prefeasibility to be delivered third-quarter 2021, with a targeted start-up for the project as early as 2023.
The terminal would be Albania’s first.