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EXECUTION OF THE PROJECT

Eagle LNG is being developed by Gruppo Falcione with the support of the Italian legal advisors Gianni, Origoni, Grippo & Partners, the international law firm Linklaters and the Albanian law firm Apicella & Partners. The gas and LNG infrastructure will be built not only for Albania but also for the Balkans and Italy as it diversifies its sources of gas supply, currently dependent for more than 80% on imports from Russia and North Africa.

The new plant will provide a gas infrastructure hugely needed in Albania, since its power generation is 98% based on hydropower. The gas obtained from the LNG project is designed to serve new turbogas power stations in Albania and to sustain the growing domestic and industrial demand. In particular, the permit agreement provides that the Albanian government has the right to request gas in respect of up to 500 mil cm/yr for the supply of the Thermo Power Plant in Vlora and of industrial facilities located in the prospective Industrial Park of Elbasan. In addition, the project will provide Albania with specialized know-how, training for local staff and with the interconnection of the country with the European gas network.

The Group has operated in Albania since 1995 in the field of water and road infrastructure by executing projects for a total amount of over 27 million euro. Edmondo Falcione, Group President, has so commented the agreement: "It is the confirmation of the excellent work of our group in the recent years and of the strategic role of Italian firms in Albania. We are delighted that the Albanian government has awarded us such an important and strategic mission for the development of its economy and we are conscious of the great benefits that the project will bring also to Italy by diversifying the sources of gas supplyā€¯.



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