Region, Serbia and Albania have signed a Memorandum of Cooperation in the energy and mining sectors

, SEE Energy News

Last week, the Government of Serbia and Albania have signed a Memorandum of Cooperation (MoC) in the energy and mining sectors.

Under the MoC, the two countries will cooperate in energy investments, such as the construction of the LNG terminal in Albania, as well as development of electricity generation capacities and electricity interconnections.

The MoC also envisages the exchange of scientific and technological research in the field of green energy sources and the improvement of business and economic ties in the field of energy, including the use of transport, transmission and storage capacities. Cooperation in the field of geology and mining is also foreseen, with a special emphasis on cleaner technologies and sustainable development, the press release read.

The MoC is signed within the Open Balkan initiative, which also includes North Macedonia. Open Balkan is an initiative for establishing a free economic zone of the three countries.