Albania and Italy have formalized a new phase of cooperation in the energy sector through the signing of a memorandum of understanding in Tirana. The agreement is centered on enhancing energy security and advancing strategic hydrocarbon supply capacities, reinforcing efforts to strengthen long-term resilience within the sector. The signing ceremony was attended by Albania’s Prime Minister Edi Rama, Economy Minister Delina Ibrahimaj, Infrastructure and Energy Minister Enea Karakaçi, along with senior Italian representatives.
The memorandum was signed by Ibrahimaj, Karakaçi, and ENI CEO Claudio Descalzi. According to Ibrahimaj, the agreement represents a significant milestone for the country’s energy and economic priorities. She noted that the cooperation with ENI S.p.A. will contribute to a feasibility study focused on establishing national oil and gas supply and storage capacities. Through this initiative, Albania’s energy security is expected to be strengthened while creating a framework for future development of strategic infrastructure.
Feasibility Study to Examine National Capacity Expansion
The planned project is intended to improve supply security, encourage economic growth, and reinforce Albania’s position within the regional energy landscape. Government officials view the energy sector as both a strategic requirement and an important contributor to economic competitiveness and development.
Ibrahimaj stated that the study will evaluate how Albania’s oil resources can deliver greater economic value. She added that revenues generated from the sector could subsequently be directed toward national development initiatives.
The broader vision also includes establishing Albania as a regional center for energy storage, logistics, and trading activities. Authorities believe this approach could generate benefits for related industries, including ports and transportation.
Working Group to Prepare Business Plan
A joint working group will begin operating immediately following the signing of the agreement. During the next three months, the team will carry out technical, legal, and financial assessments before developing a structured business plan for a company intended to serve domestic market requirements.
According to Ibrahimaj, the long-term objective is the creation of a profitable state-owned company capable of efficiently utilizing national capacities while increasing revenues for the Albanian economy. The memorandum is regarded as another important step in strengthening the strategic partnership between Albania and Italy, particularly as energy diversification continue to rank among the region’s leading priorities.
