Albania strengthens energy sector through strategic partnerships with Azerbaijan and the UAE
In November 2024, during the COP29 summit in Baku, Azerbaijan, Albania took significant steps to enhance its energy infrastructure by signing two pivotal agreements. The first, between the Albanian Ministry of Infrastructure and Energy, Albgaz, and Azerbaijan’s state oil company SOCAR, focuses on developing a natural gas distribution system in the city of Korçë. The second agreement, between the Albanian Power Corporation (KESH) and the United Arab Emirates’ renewable energy company Masdar, aims to establish a joint venture for investing in renewable energy projects within Albania and the broader region.
Why does it matter: These agreements are crucial for Albania’s energy diversification and sustainability goals. By collaborating with SOCAR, Albania seeks to introduce natural gas infrastructure to the city of Korca, as a way of enhancing energy security and lowering energy costs. The partnership with Masdar aligns with global trends toward renewable energy, positioning Albania as a proactive participant in the transition to sustainable energy solutions.
The memorandum of understanding with SOCAR outlines plans to develop a natural gas distribution network in Korçë, marking a significant step in Albania’s national gasification strategy. This initiative is expected to lower energy costs, increase energy exports and improve energy security for the country. The project is anticipated to expand to neighboring areas such as Pogradec and Ersekë, further extending the benefits of natural gas infrastructure.
Concurrently, the agreement between KESH and Masdar focuses on the development, construction, and operation of renewable energy projects utilizing technologies such as solar photovoltaic, wind, and hybrid solutions, with potential integration of battery storage. The energy produced is expected to supply the Albanian market and be exported to neighboring countries, enhancing regional energy stability.
Albania’s strategic location in the Balkans makes it a key player in regional energy dynamics. These agreements reflect a commitment to international cooperation in addressing global energy challenges and underscore Albania’s role in the global transition toward sustainable energy solutions.
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