Aktor Group signed on 28 April an important twenty-year deal to supply an American LNG to Albania. Through its subsidiary Aktor LNG USA, it will supply 1 billion cubic metres of natural gas annually to the state of Albgaz from 2030, with estimated revenues of EUR 6 billion. At the same time, Aktor Energy USA signed a Memorandum of Cooperation with the Albanian Energy Ministry for Energy Development, including an 380 megawatt power station. CEO Alexander Exarchos described the landmark deal for the Vertical Corridor, aimed at Europe's energy security with non-Russian gas.
Analyticalally:
The Aktor Group signed a long-term agreement, via its subsidiary, on the supply of LNG from the US to Albania's state gas company Albgaz, the Greek infrastructure company announced on 28 April.
According to the agreement, which planned to last 20 years, Aktor, via Aktor LNG USA's subsidiary, expects to supply 1 billion cubic metres of natural gas annually to ALBGAZ from 2030. The deal is estimated to generate some 6 billion euros (7 billion dollars), according to the April 28th announcement.
ARTICLE CONTINUES AFTER ADVERSION
Aktor also signed a memorandum of understanding, through another subsidiary, with Albania's Ministry of Infrastructure and Energy to investigate the development and operation of a «integrated energy hub», as stated in the communication of 28 April. This will include a gas-fueled power plant in Albania, with a power of approximately 380 megawatts. The US government supports the project, AKTOR said, without specifying the nature of the support. The memorandum falls under Aktor Energy USA.
Aktor LNG and Venture Global: $6 billion deal for LNG in Albania - Present Gilfoyle, Rama and Exarch [images]
AKTOR: How to extend the Vertical Corridor to Albania -The role of the American LNG in reshaping the Western Balkan energy map
Neither Albgaz nor Albania's Ministry of Infrastructure and Energy responded directly to requests for comment.
Exarch: An important step towards the implementation of the Vertical Corridor
Aktor Group CEO Alexander Exarchos described developments as milestones in the development of the Vertical Gas Corridor, an initiative to extend regional transport capacity to allow the transfer of larger quantities of non-Russian gas – from Azerbaijan and re-limited LNG arriving in Greece and Turkey – to Southeast, Eastern and Central Europe, to Moldova and Ukraine.
ARTICLE CONTINUES AFTER ADVERSION
«Today we took a very important step towards the implementation of the Vertical Corridor, a strategic initiative supported by the U.S. government and aims to offer energy security to Europe through the US LNG» said Mr. Exarch, according to the announcement of 28 April.
Platts, part of S&P Global Energy, valued the DES Mediterranean LNG index at $14,489 per million British thermal units on 28 April, reduced by 2.8% on a daily basis.
Follow it. on Google News and learn all the news first
See all the last News From Greece and the World,
