Dardani
Fri, 3rd November 2006, 00:47:32
The international consortium ASG Power SA said Saturday that it would build a US$1.9 billion (euro1.54 billion) power plant and regasification terminal in southwestern Albania in the next three years to provide power and gas to the region.
The Lugano-based (Switzerland) consortium, made up of the AET Swiss public utility company and other European and U.S. investors, signed a memorandum of understanding with the Albanian government in March, according to the consortium's statement.
The Albanian Parliament was expected to approve the project in June.
The project, to be built in the Fieri district, 100 kilometers (62 miles) southwest of capital Tirana, would consist of an LNG regasification plant with an annual capacity of 10 billion cubic meters and a combined cycle power plant to be constructed in three phases of 400 MW each.
Liquefied natural gas is transported by being cooled and condensed into a liquid form. It is "regasified" at receiving terminals, where it is stored until it can be converted back into a gaseous form and delivered via pipeline to customers.
The project, expected to be completed in 2009, is to provide Albania with all of its power, as well as providing gas and power through international connections to the European grid, turning Albania one of the biggest producers and exporters of gas and power in Europe, the consortium said.
The tiny Balkan country, which has suffered power cuts during post-communist period since 1990, would have the right to purchase gas and power at below market rates in order to meet its domestic energy needs.
A significant portion of the project, in excess of US$600 million (euro487 million) is to be financed by the U.S. Import Export Bank.
ASG Power SA has signed agreements for the LNG regasification, power plant and undersea pipeline construction with the Italian-U.S. joint venture of SAIPEM and Black & Veatch, and also with the German company ABB for all electrical interconnections and high voltage DC line construction, according to the statement.
Power grids linking Albania to Italy and Greece would comply with the European Union technical requirements, allowing for connection to the European grid, according to the statement, which added that "Europe will have access through this connection, to additional inexpensive and renewable energy sources."
Albania was expected to use 2 billion cubic meters of gas for the power plant and other industry, and the remaining 8 billion cubic meters of gas would be transported via an undersea gas transmission pipeline to Italy, the consortium said.
It said the project would stimulate economic development in southern Albania with as many as 3,500 jobs during construction and 300 during operation.
In the next two months there would be completed the project's technical and legal terms would be completed and the approval by the Albanian Parliament of the final contract was expected by June.
Llazar Semini, AP Chron.com
http://www.chron.com/disp/story.mpl/ap/fn/3812074.html
Project location:
http://img181.imageshack.us/img181/7691/asg8qr.jpg
The Lugano-based (Switzerland) consortium, made up of the AET Swiss public utility company and other European and U.S. investors, signed a memorandum of understanding with the Albanian government in March, according to the consortium's statement.
The Albanian Parliament was expected to approve the project in June.
The project, to be built in the Fieri district, 100 kilometers (62 miles) southwest of capital Tirana, would consist of an LNG regasification plant with an annual capacity of 10 billion cubic meters and a combined cycle power plant to be constructed in three phases of 400 MW each.
Liquefied natural gas is transported by being cooled and condensed into a liquid form. It is "regasified" at receiving terminals, where it is stored until it can be converted back into a gaseous form and delivered via pipeline to customers.
The project, expected to be completed in 2009, is to provide Albania with all of its power, as well as providing gas and power through international connections to the European grid, turning Albania one of the biggest producers and exporters of gas and power in Europe, the consortium said.
The tiny Balkan country, which has suffered power cuts during post-communist period since 1990, would have the right to purchase gas and power at below market rates in order to meet its domestic energy needs.
A significant portion of the project, in excess of US$600 million (euro487 million) is to be financed by the U.S. Import Export Bank.
ASG Power SA has signed agreements for the LNG regasification, power plant and undersea pipeline construction with the Italian-U.S. joint venture of SAIPEM and Black & Veatch, and also with the German company ABB for all electrical interconnections and high voltage DC line construction, according to the statement.
Power grids linking Albania to Italy and Greece would comply with the European Union technical requirements, allowing for connection to the European grid, according to the statement, which added that "Europe will have access through this connection, to additional inexpensive and renewable energy sources."
Albania was expected to use 2 billion cubic meters of gas for the power plant and other industry, and the remaining 8 billion cubic meters of gas would be transported via an undersea gas transmission pipeline to Italy, the consortium said.
It said the project would stimulate economic development in southern Albania with as many as 3,500 jobs during construction and 300 during operation.
In the next two months there would be completed the project's technical and legal terms would be completed and the approval by the Albanian Parliament of the final contract was expected by June.
Llazar Semini, AP Chron.com
http://www.chron.com/disp/story.mpl/ap/fn/3812074.html
Project location:
http://img181.imageshack.us/img181/7691/asg8qr.jpg