Azernews.Az

By Narmina Mammadova

SOCAR Energy Georgia and Georgian Ministry of Economy and Sustainable Development signed a memorandum of understanding on October 24, report.az informed.

The document was inked by SOCAR Energy Georgia General Director Mahir Mammadov and Georgian Economy Minister Giorgi Kobulia.

The memorandum envisages studying opportunities of cooperation in encouraging socioeconomic development, raising living conditions in high mountain areas, assisting development of tourism and entertainment, alternative ways of heating supply.

President of the State Oil Company of Azerbaijan (SOCAR) Rovnag Abdullayev accompanied by a number of company officials paid a working visit to Georgia, as part of which the meeting with the Georgian minister took place.

Earlier, SOCAR implemented an environmentally-friendly project 'Virtual pipeline' in the territory of the country's Sairme resort. The technology of a virtual gas pipeline is a way of transporting natural gas in a form of compressed natural gas to consumers residing in high mountain areas. In the world practice, natural gas is transported to relatively short distances in a form of a CNG. Sairme is 52 km away from the closest point of natural gas acceptance. Therefore, within the framework of the pilot project it was decided to transport gas in a form of a compressed natural gas. Following the signing of the memorandum, it is planned to create a working group for sustainable cooperation in this area.

SOCAR is a wholly state-owned national oil company headquartered in Baku, Azerbaijan. The company produces oil and natural gas from onshore and offshore fields in the Azerbaijani section of the Caspian Sea.

The company includes three production associations, one oil refining and gas processing enterprise, an oil flotilla, a deep-water base plant, two trusts, one institute, and 23 structures.

SOCAR established joint companies (including Georgia and Turkey), alliances, operating in various sectors of oil and gas spheres. It has representative offices in Georgia, the U.S., Turkey, Romania, Austria, Switzerland, Kazakhstan, Great Britain, Iran, Germany, Ukraine, Belgium and Canada.

SOCAR launched its activity in Georgia in 2006. In the same year, the Kulevi oil terminal was purchased to transport oil to the western markets.

The State Oil Company of Azerbaijan (SOCAR) has a well-developed global network of petrol stations (gas stations) of the SOCAR brand.

On August 30, SOCAR Georgia Petroleum, a subsidiary of SOCAR Energy Georgia LLC (a structure of SOCAR), commissioned a new petrol station. A gas station that meets modern standards has been opened in the village of Gyzylgadzhili, Marneulsky district of Georgia.

SOCAR Georgia Petroleum accounts for 115 petroleum stations, 16 service centers and 15 oil terminals in the Georgian market, organizes retail and whole sale of oil products of the third parties. SOCAR Georgia Gas supplies and distributes natural gas in the country's regions, manages local networks and serves more than 670,000 subscribers.

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