News

Norway assists in plans for energy exchange

Published

July 9, 2015

Comments

0

Share

Published:

July 9, 2015

Comments:

0

Share

Minister of Energy and Industry Damian Gjiknuri announced that Albania will finally establish its energy stock market in cooperation with the Norwegian government. At a press conference, he said the project is conceived based on Norway’s platform, according to a report on Invest in Albania portal. The exchange will be a mechanism for physical and financial transaction of energy volumes, the minister added.

The decision follows the voting of the new bill on electricity sector, as Albania is taking steps to liberalize the energy market. Meanwhile, there will also be legal amendments in order to create a new market model, Independent Balkans News Agency said.

The development and the expansion of a liberalized energy market is a very important step for the regional energy market, according to Gjiknuri. „The meeting for the creation of the energy stock in Albania defines the agenda for the liberalization of the energy market. We have started discussions for liberalizing this market with Kosovo*… The unification of Albania’s and Kosovo’s* energy markets and the construction of 400kv interconnection line with Macedonia are our prior projects in this sector. The bigger a market is, the bigger will be the financing of energy projects and the alternation of energy sources and these raise the security in the energy sector in the region,” he underscored. According to the minister, it is forecasted that in 2020 Albania will be connected with all countries in the region.

Gjiknuri added the government is working for the improvement of the renewable energy legal framework and for the gasification process in TAP project. He praised the latest incentives for the liberalization of the energy market in Albania. According to him, steps are being taken with neighbouring countries to join markets and to create bigger ones, as it’s the case with Kosovo*.

„Several efforts are being made under the supervision of the Energy Community for the creation of joint offices for the allocation of capacities, something that makes these countries connect to each other and be more liquid. Once they’re more liquid, there are more financial guarantees for investments,” Gjiknuri said.

 

* This designation is without prejudice to positions on status and is in line with UNSCR 1244/99 and the ICJ Opinion on the Kosovo declaration of independence.

Related Articles

INA intends to produce green hydrogen at Rijeka oil refinery

INA intends to produce green hydrogen at Rijeka oil refinery

30 November 2022 - The green hydrogen will be used to supply the transport sector in Croatia and for the refinery’s own consumption

Turkey new energy storage regulation to spur unseen investment boom

Turkey’s new energy storage regulation to spur unseen investment boom

30 November 2022 - EMRA Chair Mustafa Yılmaz said applications came in for storage in combination with renewables with a stunning 67.3 GW in total capacity

HERMANN Petr_interview_Schneider Electric BGEN

Future of successful businesses relies on their digital transformation

30 November 2022 - Digitalisation changes everything because it connects all processes and provides a complete result, notes Petr...

Serbia relies on Norwegian expertise in energy sector development

Serbia to rely on Norwegian expertise in energy sector development

30 November 2022 - Serbia received recommendations from Rystad Energy and will work by its instructions, President Aleksandar Vučić said