Albania memorandum of cooperation with ENI, Karakaçi: National HUB for energy products
Albania has taken another important step towards strengthening its energy security. In the presence of Prime Minister Edi Rama, Ministers Enea Karakaçi and Delina Ibrahimaj, on behalf of the Albanian Government, signed a Memorandum of Cooperation with ENI, which paves the way for assessing the possibilities for creating a National HUB for energy products in our country.
The memorandum foresees the implementation of phased studies on the technical, economic, financial, legal and regulatory feasibility of this strategic project, as well as the assessment of opportunities for supplying the Albanian market with energy products.
In his speech, Minister Karakaçi emphasized that for the Albanian Government, energy security is a fundamental element of national security, economic development and the well-being of citizens, so this memorandum is one more step towards this objective. “Our objective is clear. To increase security of supply, reduce exposure to international market shocks and ensure that the Albanian economy has the energy necessary to support its long-term development. Along the same lines, the hydrocarbon sector has also been highly appreciated, where the government has taken important steps for sectoral regulation,” said Karakaçi.
Energy security cannot rely solely on market mechanisms. It is a strategic responsibility of the state, the Minister of Infrastructure and Energy continued, announcing that a new draft law has already been drafted for the creation and management of strategic oil reserves in the country.
"The feasibility study for the creation of a National Energy Products Hub takes on special importance. It can constitute an important instrument for strengthening national storage capacities, guaranteeing strategic stocks and increasing security of supply for the Albanian economy. Today we are not making a definitive decision on an investment. Today we are taking the right step to study with seriousness, professionalism and responsibility all alternatives that can contribute to the country's energy security", said Karakaçi.
The Minister of Infrastructure and Energy expressed his gratitude to the ENI company for its readiness, expertise and continuous partnership during these years in our country.
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