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Enagás signs agreement with AlbGaz for potential acquisition of a stake in the company

Spanish energy company Enagás signed a strategic cooperation agreement with Albania’s natural gas transmission system operator AlbGaz for the possible acquisition of a stake in the Albanian company and for studying joint projects.

“This agreement responds to the long-term commitment that Enagás has in Europe and, in particular, in the Mediterranean region, in line with its strategy of alliances with operators to further the security of supply,” said the CEO of Enagás, Arturo Gonzalo. In this regard, he pointed out that “Enagás has already a relationship with AlbGaz, thanks to the company’s 16 per cent stake in the Trans Adriatic Pipeline (TAP, which links Turkey with Italy through Greece and Albania), as well as in its eventual expansion.”

“This agreement marks a new dimension in which our vision of strategic natural gas projects with regional gravity attracts the cooperation and interest of the world’s energy leaders,” added the CEO of AlbGaz, Arber Avrami. “In this context, the cooperation agreement we achieved with Enagás reflects such willingness, as well as the interest of our valuable partners to examine new growth horizons within the scope of mutual projects, while remaining dedicated to our common goals for energy security, diversification of supply and sustainable development.”

The agreement follows the draft signed last June by the two leaders of the Spanish and Albanian operators, Enagás and AlbGaz, in Madrid. On that occasion, the parties signed a Memorandum of Understanding (MoU) to collaborate on the development of gas infrastructure in Albania in order to lay the foundations with which to contribute to the security of the country’s energy supply and the decarbonisation of its economy, replacing polluting fuels and also promoting renewable gases.

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