Albania and Argent LNG Assess 5 Million Tonne LNG Terminal

en.Wedoany.com Reported - On September 9, the Albanian government signed a non-binding memorandum of understanding with U.S. liquefied natural gas developer Argent LNG to jointly assess the development of a large onshore LNG storage and regasification terminal along Albania's coast. The proposed project would have a regasification capacity of up to approximately 5 million tonnes per year and remains at the project assessment stage, with no binding supply, financing, or construction agreements yet in place.

Under the memorandum, the two sides will establish a joint working group to advance candidate site assessment, project feasibility studies, technical interconnection solutions, and financing structure design. The financing plan is intended to explore support from institutions including the U.S. Trade and Development Agency (USTDA), the U.S. International Development Finance Corporation (DFC), and the Export-Import Bank of the United States (EXIM). Argent LNG has not disclosed the project investment amount, final site selection, or a specific construction timetable.

The proposed terminal is planned to have LNG receiving, storage, and regasification capabilities, primarily targeting the Western Balkans and Southeastern Europe markets. The project is planned to interconnect with the Trans Adriatic Pipeline (TAP), the proposed Ionian-Adriatic Pipeline (IAP), and the Fier–Vlorë gas corridor, enabling LNG delivered to the Albanian coastal terminal to be fed into the regional natural gas transmission network after storage and regasification.

Albania's planned role in the project is primarily that of host country and regional gas entry point, rather than a major LNG buyer. Under the current plans of both sides, regasified natural gas could be delivered via the regional pipeline network to multiple markets in the Western Balkans and Southeastern Europe, and further gas supplies to Ukraine through reverse flow, gas swaps, and other regional market arrangements are being studied.

This cooperation also links up with natural gas cooperation arrangements previously established by Argent LNG in Central and Eastern Europe. In July 2026, Argent LNG signed a memorandum of understanding on cooperation with Naftogaz Group of Ukraine; in August, it signed another memorandum of understanding with Romanian national natural gas transmission company Transgaz, under which the two sides are studying a strategic equity investment by Transgaz in the Argent LNG project and establishing a supply framework for U.S. LNG entering Romania and surrounding markets.

Argent LNG is currently developing a planned 25 million tonne per year LNG export terminal at Port Fourchon in Louisiana, United States. The project is in the U.S. federal regulatory approval and engineering preparation stage, with a target of shipping its first LNG cargo in 2030. The current development timeline for the Albanian terminal is planned to align with the Port Fourchon project's 2030 first export target.

The U.S. Department of Energy granted Argent LNG's Port Fourchon project a long-term LNG export authorization in July 2026, permitting LNG exports within the relevant licensing scope to countries that have signed free trade agreements with the United States. The project is planned to adopt a modular liquefaction solution with a designed total capacity of 25 million tonnes per year. The Albanian project and the Port Fourchon export project are at different engineering levels: the former is a proposed LNG import, storage, and regasification facility, while the latter is an LNG liquefaction and export facility within the United States.