Europe / Caspian / CIS

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Summary | Profile

Country profile: Albania

Location: Southeastern Europe, bordering the Adriatic Sea and Ionian Sea, between Greece in the south and Montenegro and Kosovo to the north
Climate: mild temperate; cool, cloudy, wet winters; hot, clear, dry summers; interior is cooler and wetter
Terrain: mostly mountains and hills; small plains along coast
Size: 28748 sq. km total (Land area: 27398 sq. km  Water area: 1350
Population: 3,619,778 (July 2008 est.)
Languages: Albanian (official - derived from Tosk dialect), Greek, Vlach, Romani, Slavic dialects
Government: emerging democracy
Capital city: Tirana
Legal system: has a civil law system; has not accepted compulsory ICJ jurisdiction; has accepted jurisdiction of the International Criminal Court for its citizens
Currency: lek

Country profile

The countries of the Balkans region are neither major energy producers nor consumers. Although the region does hold some important fossil fuel deposits, these resources are not significant on a world scale, and the political and economic instability in the Balkans in recent years has discouraged any substantial foreign investment in the respective countries' energy sectors. Rather, the region is becoming more important as a transit center for Russian and Caspian Sea region oil exports to Western consumers. Albania declared its independence from the Ottoman Empire in 1912, but was conquered by Italy in 1939. Communist partisans took over the country in 1944. Albania allied itself first with the USSR (until 1960), and then with China (to 1978). In the early 1990s, Albania ended 46 years of xenophobic Communist rule and established a multiparty democracy. The transition has proven challenging as successive governments have tried to deal with high unemployment, widespread corruption, a dilapidated physical infrastructure, powerful organized crime networks, and combative political opponents. Albania has made progress in its democratic development since first holding multiparty elections in 1991, but deficiencies remain. International observers judged elections to be largely free and fair since the restoration of political stability following the collapse of pyramid schemes in 1997. In the 2005 general elections, the Democratic Party and its allies won a decisive victory on pledges of reducing crime and corruption, promoting economic growth, and decreasing the size of government. The election, and particularly the orderly transition of power, was considered an important step forward. Although Albania's economy continues to grow, the country is still one of the poorest in Europe, hampered by a large informal economy and an inadequate energy and transportation infrastructure. Albania has played a largely helpful role in managing inter-ethnic tensions in southeastern Europe, and is continuing to work toward joining NATO and the EU. Albania, with troops in Iraq and Afghanistan, has been a strong supporter of the global war on terrorism.

Energy production and consumption

Oil Gas
Production: 7,006 bbl/day (2005 est.) 28 million cu m (2005 est.)
Consumption: 29,000 bbl/day (2005 est.) 28 million cu m (2005 est.)
Exports: 1,240 bbl/day (2004 est.) NaN N/A
Imports: 21,600 bbl/day (2005 est.)  N/A
Reserves: 198 million bbl (1 January 2006 est.) 814 million cu m (1 January 2006 est.)
Major fields:

Albania - recent news

05 Jul 22
Albania: Statkraft moves ahead with final stage of the Banja Floating Solar Plant based on Ocean Sun’s innovative floating technology
On the 1st of April 2022, Banja Floating Solar Plant’s first floater started commercial operations. This project is based on Ocean Sun’s innovative floating solar technology.
03 Jun 21
Albania: First floating solar plant in Albania starts commercial operations
Statkraft, Europe’s largest renewable energy generator, in cooperation with Norwegian supplier Ocean Sun has started commercial operations at the first unit of its floating solar project in Albania, further contributing to the country’s renewable energy journey.
05 Jan 20
Albania: Eni signs a Production Sharing Contract for the exploration of an onshore block in Albania
Eni has signed with the Ministry of Infrastructure and Energy, the Production Sharing Contract to explore, with a 100 percent equity interest, the Dumre Block, onshore of Albania
26 May 19
Albania: Shell confirms potential of significant oil discovery in Albania
Initial tests on the Shell Upstream Albania Shpirag-4 appraisal well near Berat, central Albania, have confirmed the flow potential of a significant light oil discovery. The Shpirag discovery, in a fractured carbonate reservoir, is in an equivalent geological setting to the large Val D’Agri and Tempa Rossa fields in Italy.

Albania - more news

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