PROJECT OF STRATEGIC IMPORTANCE
The Eagle LNG project has been selected by the EU Commission and Energy Community (governments in Balkan region) as a “Project of Energy Community Interest (PECI)”. This label is granted to 10 gas infrastructure projects that have the “highest positive impact on the largest possible number of countries” and entitles the project to financial support, special regulatory regime and accelerated permitting.
The project is strategic for Italy, Balkans and Europe:
- Increases security of gas supply – LNG is the European solution to mitigate European dependency on gas currently delivered via pipeline. LNG means no long-term dependency on a single supply country and no political risk in the transit countries;
- Brings competitive sources of gas – as from 2017, LNG will be available in abundance for Europe from new and existing liquefaction plants in the USA (shale gas), Middle East and Africa;
- Increases the gas integration of the SEE region - Gas demand in SEE is expected to reach 41 bcma by 2020. Eagle LNG would contribute to cover the expected gas supply gap in the region of 23 bcma by 2020;
- Supports the Albanian economic development – Albania doesn’t currently have a high-pressure gas grid but the development of the gas infrastructure and the gas market is its highest energy priority. Albania needs to build at least 800 MW of gas-fired power plants to guarantee network stability and to develop its industry;
- The simplest and quickest route to bring gas to Italy and the Western Balkans - short length of the subsea pipeline, modern and efficient floating regasification technology (FSRU) and fast construction time;
- Minimal environmental impact – a floating vessel 5 km offshore in Albania, an offshore gas pipeline in the Adriatic and gas pipelines in Italy and Albania.