SOCAR seeks stake in Georgia gas pipe
TBILISI - Azerbaijan’s state energy firm SOCAR is greatly
interested in a possible acquisition of shares of the trunk gas
pipeline in Georgia, the head of SOCAR Energy Georgia, SOCAR's
subsidiary, said Wednesday.
Mahir Mammadov said negotiations on the issue have not begun yet. "However, the company is closely following the developments around a possible sale of the participating interest in the pipeline."
He also said SOCAR has extensive experience in the operation of major pipelines. Currently, the company owns all gas transportation and distribution facilities in Azerbaijan.
SOCAR currently exports its gas to Georgia. Moreover, through SOCAR Energy Georgia, the company has extensive operations in the neighboring country's gas distribution market, where it owns about 30 networks. Considerable investments have been made in the development of these networks.
Earlier, the Georgian government removed the trunk gas pipeline from the list of strategic facilities. This process envisages partial privatization of the participating share -- a move supporters say will improve the efficiency of the conduit.
Earlier, Kazakhstan’s KazMunaiGas and Russian giant Gazprom sought acquiring a stake in the pipeline.*
Mahir Mammadov said negotiations on the issue have not begun yet. "However, the company is closely following the developments around a possible sale of the participating interest in the pipeline."
He also said SOCAR has extensive experience in the operation of major pipelines. Currently, the company owns all gas transportation and distribution facilities in Azerbaijan.
SOCAR currently exports its gas to Georgia. Moreover, through SOCAR Energy Georgia, the company has extensive operations in the neighboring country's gas distribution market, where it owns about 30 networks. Considerable investments have been made in the development of these networks.
Earlier, the Georgian government removed the trunk gas pipeline from the list of strategic facilities. This process envisages partial privatization of the participating share -- a move supporters say will improve the efficiency of the conduit.
Earlier, Kazakhstan’s KazMunaiGas and Russian giant Gazprom sought acquiring a stake in the pipeline.*
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