Albanian gas and Bosnian aluminium companies sign 20-year agreements for US LNG
Albgaz, Albania’s state-owned gas company, signed a long-term commercial agreement for US LNG with Aktor LNG USA, a subsidiary of Greek energy company Aktor. Aktor LNG USA will supply 1 billion cubic meters of LNG per year starting in 2030, for 20 years. Estimated revenues for the entire duration of the agreement reach 6 billion euros.
Additionally, Aktor LNG USA signed a Memorandum of Understanding (MoU) with the Ministry of Infrastructure and Energy of Albania to conduct studies on the development, construction, and operation of an integrated energy hub, which will include a gas-fired power plant with approximately 380 MW capacity. The US government supports the project.
The Greek company also signed a 20-year agreement with Bosnia and Herzegovina’s aluminium producer Aluminij Industries, a subsidiary of Israel’s M.T. Abraham Group, for the supply of 0.5 billion cubic meters of gas per year starting in 2030. Total estimated revenues over the duration of the agreement reach 3 billion euros.
In addition, Aktor LNG USA is cooperating with the M.T. Abraham Group on the development, construction and operation of a natural gas-fired power plant to be installed at the Aluminij smelting facility in Mostar.
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