US LNG developer Argent LNG and the Albanian Government have entered into a non-binding Memorandum of Understanding (MoU) to jointly assess the potential development of a large-scale LNG storage and regasification terminal on Albania’s coast (Argent LNG press release, 09/10/2026).
The proposed onshore facility would provide up to 5 Mt/year of regasification capacity, alongside substantial LNG storage capacity. The project is intended to strengthen energy security in the Western Balkans and south-eastern Europe by providing flexible LNG storage and regasification capabilities to help maintain gas supplies during periods of high demand or supply disruptions.
According to the press release, Albania would primarily serve as the project’s host country and regional energy gateway, rather than as a major LNG offtaker. “Albania’s domestic electricity system is predominantly supplied by renewable energy, and the proposed infrastructure is therefore intended to leverage Albania’s strategic Adriatic location and existing and planned gas infrastructure to provide greater flexibility and resilience to neighboring markets”, the statement added. Indeed, according to our data, hydropower accounted for 84% of Albania’s power mix in 2025, while solar accounted for the remaining 16% (Enerdata Global Energy & CO2 Data). The country has no gas-fired power capacity and the sole oil-fired power plant remains idle.
The planned terminal would be connected to the Trans Adriatic Pipeline, the Ionian Adriatic Pipeline and the Fier–Vlorë corridor. These interconnections could facilitate the transportation of US-sourced LNG from the Albanian coast to markets across the region, potentially creating an additional supply route independent of Russian gas.
The proposal also identifies potential benefits for Ukraine’s energy security. By connecting the terminal to regional gas infrastructure, various arrangements, including reverse flows or swaps, could be enabled, potentially allowing US LNG imports to ultimately reach Ukraine. The project timeline is designed to align with Argent LNG’s planned first cargo shipment from Port Fourchon in 2030.