Excelerate Energy, Snam and Albgaz sign letter of intent to pursue a new gas pipeline

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“We use our downstream capacities and work with each other Albania To explore expanding their access to reliable energy, we are able to take a significant step towards energy security for the country, “said Steven Kobos, President and Chief Executive Officer of Excelerate Pipeline for the region may have.”

As a leading provider of floating LNG regasification solutions, Excelerate has delivered reliable, clean energy to markets around the world and developed and operated 13 LNG terminals worldwide. This Memorandum of Understanding is the latest example of Excelerate’s focus on greater integration of gas and electricity customer services.

Snam is one of the largest owners and operators of energy infrastructure in the world and a leading shareholder in the Trans Adriatic Pipeline (TAP). The Albanian gas service company Sh.A von Snam and Albgaz, which operates the gas transport network in Albania, could potentially operate and maintain the future pipeline.

“This MOU further strengthens our commitment Albania initiated four years ago, “said Mario Franchin, Senior Vice President Global Solutions Commercial at Snam. “It’s another important step in the development of Albania Energiestrategie and Snam are happy to share their experience and know-how in order to support the country and Albgaz on their way to the energy transition. “

Mr. Arber Avrami, CEO of Albgaz underlined: “This is a golden opportunity for Albaniato work with such large players who can provide essential knowledge and experience not only to take advantage of the gas transport activities but also to take advantage of an important natural asset like the underground gas storage facility at Dumrea. This can not only be for energy security options Albania, but also a reliable energy supply for international gas networks. ”

The letter of intent was signed in the Congress Palace in Tirana by representatives of each unit: Arber Avrami, CEO, Albgaz; Oliver Simpson, Vice President of Commercial, Excelerate; and Mario Franchin, Senior Vice President Global Solutions Commercial, Snam. Planning is expected to begin immediately, with representatives from each company forming a coordination team.

Earlier this year, Excelerate, together with ExxonMobil and the Ministry of Infrastructure and Energy, signed a letter of intent to carry out a feasibility study for the potential development of an LNG import terminal in the port of Vlorë in Southern Albania.

About Excelerate Energy:
Excelerate Energy LP is a US-based LNG company based in The Woodlands, Texas. It is part of a private US energy company founded by Georg Kaiser. Excelerate is the pioneer and market leader in innovative floating LNG solutions and offers integrated services along the entire LNG value chain with the aim of providing customers with fast and reliable LNG solutions. Excelerate offers a comprehensive range of floating regasification services from FSRU to infrastructure development and LNG supply. Excelerate has offices in Abu Dhabi, Buenos Aires, Chittagong, Dhaka, Doha, Dubai, Rio de Janeiro, Salem, Singapore, and Washington, DC.

About Snam:
Snam is one of the world’s leading energy infrastructure operators and is one of the Italy largest publicly traded company by market capitalization. With its international presence, Snam is in Albania, Austria, France, Greece, Italy, UAE and UK and has activities in activities China and India. The group has the largest natural gas transport network (over 41,000 km including international assets) and storage capacity (approximately 20 billion cubic meters including international assets) among its European competitors and is also a leader in regasification. Snam invests in biomethane, energy efficiency, sustainable mobility and hydrogen. The group is also active in forestry and has committed itself to achieving CO2 neutrality (Scope 1 and Scope 2) by 2040.

About Albgaz:
Albgaz Sh.a. was founded in January 2017 operates as a joint stock company with 100% of the shares owned by the Albanian state and as a combined operator, which carries out the activities of the transmission system operator and the natural gas distribution system operator in Albania. The main activity of Albgaz Sh.a. is the provision of natural gas via the transmission, distribution, storage and natural gas system network.

SOURCE Excelerate Energy LP



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