An American Company is currently exploring a possibility to invest in a new Liquified Natural Gas Plant in Albania. Excelerate Energy is headquartered in Texas and has a breadth of experience in such investments. In an Interview with VOA, the CEO of Excelerate Energy, Steven Kobos, stated that his company is now undertaking a feasibility study for the floating terminal and thermal plant. He furthermore stated that the company wishes to introduce liquified natural Gas as an alternative energy source in the region.
The company is now performing extensive commercial due diligence reports and feasibility studies, which are a normal part of the larger procedures that need to be made before committing to an investment. An investment of this size from a renowned US Company would be extremely beneficial for Albania, as it would result in a decline of energy costs, a decrease of the unemployment rate and further investments in infrastructure. Excelerate Energy is collaborating with another company, Snam, which holds 20% of shares in the Trans Adriatic Pipeline which runs through the south of Albania. If all goes well, construction is set to commence in 2023.
