Argent LNG and the Albanian Government have signed a non-binding memorandum of understanding (MoU) to jointly evaluate the development of a large-scale liquefied natural gas (LNG) storage and regasification terminal on the coast of Albania.
The onshore facility is set to have a regasification capacity of up to five million tonnes per annum (mtpa) and substantial storage space.
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The project aims to enhance energy security across the Western Balkans and south-eastern Europe by offering flexible LNG storage and regasification to support gas supply during periods of high demand or disruption.
Albania’s electricity system is predominantly supplied by renewable energy sources. The country is expected to serve mainly as a host and regional gateway for LNG, leveraging its Adriatic location and pipeline connections to support gas access for neighbouring regions rather than acting as a primary LNG consumer.
Plans for the terminal include interconnections with the Trans Adriatic Pipeline, the Ionian Adriatic Pipeline and the Fier–Vlorë corridor.
These links could enable the delivery of US-sourced LNG from the Albanian coast to markets throughout the region, potentially providing an additional supply route independent of Russian gas.
The proposal also outlines possible benefits for Ukraine’s energy security. The terminal’s connection to regional gas infrastructure may support various arrangements such as reverse-flows or swaps, which could allow US LNG imports to ultimately reach Ukraine.
Argent LNG chairman and CEO Jonathan Bass said: “Albania has the opportunity to do for south-eastern Europe what it does not need to do for itself – to serve as a secure, US-anchored supply point that strengthens the energy security of its neighbors and stands with Ukraine at a moment when energy has been used as a weapon against this region.
“We are proud to partner with the Government of Albania on a project that reflects both American energy leadership and Albania’s role in advancing Three Seas and transatlantic energy security objectives.”
The project aims to integrate into a broader regional gas supply architecture, with the terminal positioned as a flagship initiative within the Three Seas Initiative, a cooperation forum of EU and partner countries including Albania.
The agreement follows earlier MoUs signed by Argent LNG with Naftogaz Group of Ukraine in July 2026 and Transgaz of Romania in August 2026.
Through these arrangements, Albania is set to become the Adriatic and Western Balkan entry point in a US-centred regional supply network, with the new terminal planned as a key energy security project under the Three Seas Initiative.
A joint working group will be set up to carry out feasibility studies, evaluate potential sites and plan technical connections for the proposed terminal, as well as to develop a funding model.
Financial and technical support is expected from organisations including the US Trade and Development Agency, the US International Development Finance Corporation and the US Export-Import Bank.
The project’s schedule is intended to coincide with Argent LNG’s planned first cargo shipment from Port Fourchon in 2030.
