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Excelerate’s CEO Sees Albania as Gateway to Europe's Natural Gas Market

  • U.S. LNG company won emergency power bid with Balkan nation
  • Company is developing Vlora LNG offshore European imports unit
Steven Kobos, chief executive officer of Excelerate Energy.

Steven Kobos, chief executive officer of Excelerate Energy.

Photographer: Aaron M. Sprecher/Bloomberg

U.S. liquefied natural gas company Excelerate Energy Inc. will supply floating power plants to Albania, hoping that the deal will get the company access to Europe’s natural gas market. 

Excelerate will provide power barges that will generate electricity and buoy the grid in the southeastern European nation. Simultaneously, the company is working with Exxon Mobil Corp. to develop an LNG-to-power project in the Albanian port of Vlora. In partnership with Albania’s state-owned Albgaz Sh a and Italy’s Snam SpA, it hopes to use the Vlora LNG project to move natural gas into neighboring nations.