The agreement also includes an evaluation of participation in the natural gas and renewable gas projects that are currently being undertaken in Albania as well as in the Mediterranean region
Enagás signs agreement with AlbGaz to buy a potential stake in the latter. (Credit: Enagás S.A.)
Spanish energy company Enagás has signed a cooperation agreement with Albanian state-owned gas firm AlbGaz to potentially acquire a stake in the latter.
AlbGaz is the operator of the natural gas transmission system in Albania– Arber Avrami.
The agreement also includes an evaluation of taking part in the natural gas and renewable gas projects that are presently being undertaken in Albania as well as in the Mediterranean region.
Enagás CEO Arturo Gonzalo said: “This agreement responds to the long-term commitment that Enagás has in Europe and, in particular, in the Mediterranean region, in line with its strategy of alliances with operators to further the security of supply.
“Enagás has already a relationship with AlbGaz, thanks to the company’s 16% stake in the Trans Adriatic Pipeline (TAP, which links Turkey with Italy through Greece and Albania), as well as in its eventual expansion”.
Enagás and AlbGaz have also agreed to partner on the development of gas infrastructure in Albania under a memorandum of understanding (MoU).
The MoU is expected to lay the foundation to facilitate the contribution towards securing Albania’s energy supply. It is also expected to help in decarbonising the country’s economy by replacing polluting fuels and promoting the use of renewable gases.
AlbGaz CEO Arber Avrami said: “This agreement marks a new dimension in which our vision of strategic natural gas projects with regional gravity attracts the cooperation and interest of the world’s energy leaders.
“In this context, the cooperation agreement we achieved with Enagás reflects such willingness, as well as the interest of our valuable partners to examine new growth horizons within the scope of mutual projects, while remaining dedicated to our common goals for energy security, diversification of supply and sustainable development”.
The companies signed the cooperation agreement at a meeting chaired by the Albanian Deputy Prime Minister and Minister for Infrastructure and Energy Belinda Balluku along with the Ambassador of Spain to Albania Álvaro Renedo.