Agreement on IAP Pipeline and Albania’s Gasification Achieved

TIRANA, February 16

The 4th Ministerial Meeting of the Southern Gas Corridor (SGC) Advisory Council that was held in Baku, Azerbaijan, concluded with two important agreements concerning the establishment of a company on the projection of the Ionian Adriatic Pipeline (IAP) and the gasification of Albania. This project will be connected to the Southern Gas Corridor. Moreover, SOCAR will provide initial engineering design services in Albania, the Azerbaijan Press Agency (APA) reported on Friday.
Representatives of SOCAR, Albgaz and other distributors from Albania, Montenegro, and Croatia signed the documents on the projection of pipelines.
SOCAR Balkans will carry out the design of the new pipeline planned to be constructed between the Albanian cities of Fier and Vlora for the distribution of natural gas to the Albanian territory. The agreement was signed by the CEO of SOCAR and Albgaz’s CEO.
IAP project consists of a pipeline that will provide the transportation of natural gas to South Eastern and Central Eastern Europe by connecting IAP with Croatia’s gas distribution system. It will run from Fier, Albania, through Montenegro, and Bosnia and Herzegovina to Split in Croatia.
Both agreements have major importance for Albania. The gasification project will reduce household costs and cover needs for heating and cooking. On the other hand, it would reduce the dependency on hydropower, which may result in both fiscal and environmental impact.
Further on, the Ionian Adriatic Pipeline (IAP) will bring more foreign direct investments, create jobs for the Albanian citizens and strengthen the role of Albania in the region.

News Source/Photo Credit: APA