Why Albania is THAT important to the Balkans

Why Albania is THAT important to the Balkans

A couple of weeks ago, Director of IN-VR, Chryssa Tsouraki published an article on Albania’s importance to the Balkans region that went viral: “Albania is far too important for Europe’s energy security to be ignored or even underestimated. Some quick facts about Albania to familiarise yourselves:

–  Patos Marinza: The largest oil field in Europe, operated by Bankers Petroleum, Official Sponsor of Balkans Petroleum.

– Delvina Gas Field: a proven gas condensate field. It lies on one of the largest gas structures in southeastern Europe

– TAP:Trans-Adriatic Pipeline will start bringing natural gas from the Caspian Sea to Europe in 2020. Albania has recently formed Albagaz to handle the transmission and distribution of TAP natural gas in the country and its neighbours. IAP is another fascinating Gas project to watch out for.

– Shell’s already invested: in Shpirag-2 and 3, with some very encouraging results.

If you are wondering how you could get involved in Albania, other than obtaining an exploration license, here are some great opportunities still available to a wide range of service providers:

  • Offshore and onshore oil and gas exploration and production equipment and services
  • Gas pipeline and Gas station equipment
  • Oil pipeline equipment (transportation from oil fields to oil terminals and refineries)
  • Oil storage equipment and underground gas storage equipment
  • Oil and gas terminal products

Besides its prolific proven oil and gas resources, Albania is a great place to do business in. Led by the wonderful Dorina Cinari, EITI is monitoring all energy activities and makes a great partner to the Ministry of Energy and Industry (MEI).
The MEI has shown incredible stability and progress and has received increased interest from IOCs since we first met in 2012.
Dritan Spahiu, former Director at the MEI, currently on a new powerful role within the state-owned Albpetrol, has been a cornerstone in these efforts.
The entire MEI cabinet and the AKBN have been working really hard to attract foreign investors by continuous education, favourable licensing terms and excellent staff for the IOCs to work with.

I personally view Albania is one of the most promising (yet very under-explored) regions in terms of oil and gas exploration and production, and I’m sure we haven’t seen its full potential yet. There is just so-much-more we should expect from Albania.

Have you visited the MEI or its subsidiaries yet? You will be overwhelmed by the kindness of its people, making them one of the most professional and active Ministries I’ve had the pleasure to work closely with.

Balkans Petroleum and IN-VR Oil & Gas are proud partners of the Albania Energy Association.

So yes, Albania is THAT important to Balkans Petroleum, and we are looking forward to hearing more about potential changes (if any) in the MEI and welcome them at Balkans Petroleum!

Even if there will be post-election changes in the MEI and its affiliates or not, one thing is certain; Albania is open for business.

If you would like to meet with Bankers Petroleum, the Ministry of Energy and Industry, AKBN, Albpetrol, Abkons, Shell and many more important Albanian leading organisations, secure your place at the Balkans Petroleum summit, taking place 3-4 October at Royal Olympic Athens.

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