Serbia, Albania to cooperate in energy, mining sectors

by Cristian Florescu

The governments of Serbia and Albania signed a Memorandum of Cooperation (MoC) in the area of energy and mining, Serbia’s ministry of mining and energy said.

Under the MoC, the two countries will cooperate in energy investments, such as the construction of the LNG terminal in Albania, as well as the development of power capacities and energy links, Serbia’s ministry of mining and energy said in a press release on Friday.

The MoC also envisages the exchange of scientific and technological research in the field of green energy sources and the improvement of business and economic ties in the field of energy, including the use of transport, transmission and storage capacities. Cooperation in the field of geology and mining is also foreseen, with a special emphasis on cleaner technologies and sustainable development, the press release read.

The MoC was signed as part of a meeting within the Open Balkan initiative, which also includes North Macedonia. Open Balkan, formerly known as mini-Schengen, is an initiative for establishing a free economic zone of the three countries in which a total of 12 million people live.

Other agreements were also signed at the meeting, including an agreement on food security between Serbia, Albania and North Macedonia. Under the agreement, the three countries will help each other in case of food shortages due to disruptions in the global supply chains, Serbia’s ministry of agriculture, forestry and water management said in a statement on Friday.

In 2021, US-based liquefied natural gas (LNG) company Excelerate Energy said it has signed a memorandum of understanding with ExxonMobil LNG Market Development Inc and Albania for the potential development of an LNG import terminal in the port of Vlora.

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