Government moves to secure fuel reserves

The Albanian government has signed an agreement with Italy and Italian energy group Eni to study a new system for oil and gas supply and storage.

Prime Minister Edi Rama said the plan would help Albania secure strategic fuel reserves and avoid shortages during future crises.

The agreement is the first step towards creating a new company to manage fuel reserves.

Rama said the company could be registered before August.

The project will first study the technical, legal and financial steps needed to build storage capacity and manage supply.

Economy Minister Delina Ibrahimaj said the company should serve the domestic market and increase state revenue.

Energy Minister Enea Karakaçi said the plan would bring Albania closer to European energy security standards.