SOCAR to manage Georgian gas networks
The Azerbaijani state energy firm SOCAR will manage
22 gas distribution networks in Georgia, under a contract it signed
with the neighboring South Caucasus republic`s government on
Friday.
The agreement was inked by Georgian Minister for Economic Development Lasha Zhvania and SOCAR President Rovnag Abdullayev during the latter`s visit to Tbilisi.
Abdullayev said SOCAR intends to invest $40 million over three years in the network it will operate in Georgia. The funds will be spent to build new distribution lines, upgrade existing infrastructure and other activities.
According to Abdullayev, SOCAR Georgia Gas, SOCAR`s affiliated company in the neighboring country, is to provide 300,000 Georgians with fuel by 2012 on account of Azerbaijani gas.
As for the volume of gas Azerbaijan will deliver to Georgia, the SOCAR head did not elaborate. He added that the prices for gas will reflect those in world markets.
Zhvania, for his part, said that despite the ongoing financial crisis in world markets, Azerbaijan is making investments in a multitude of sectors of the Georgian economy, including the gas distribution system, and Tbilisi welcomes this.
The contract signed by SOCAR also covers issues concerning the supplies of gas to Georgia`s regions densely populated by Azerbaijanis.
While in Tbilisi, Abdullayev also attended the opening of a new gas-filling station and the Customer Service Center of SOCAR Georgia Gas.
Azerbaijan is already exporting gas to its neighbors - Georgia and Turkey. Through Turkish territory, Azerbaijani gas is being delivered to European markets and, in particular, Greece.
Azerbaijan will produce 27 billion cubic meters of gas for the first time in 2008, with this volume expected to double in five to seven years.
The agreement was inked by Georgian Minister for Economic Development Lasha Zhvania and SOCAR President Rovnag Abdullayev during the latter`s visit to Tbilisi.
Abdullayev said SOCAR intends to invest $40 million over three years in the network it will operate in Georgia. The funds will be spent to build new distribution lines, upgrade existing infrastructure and other activities.
According to Abdullayev, SOCAR Georgia Gas, SOCAR`s affiliated company in the neighboring country, is to provide 300,000 Georgians with fuel by 2012 on account of Azerbaijani gas.
As for the volume of gas Azerbaijan will deliver to Georgia, the SOCAR head did not elaborate. He added that the prices for gas will reflect those in world markets.
Zhvania, for his part, said that despite the ongoing financial crisis in world markets, Azerbaijan is making investments in a multitude of sectors of the Georgian economy, including the gas distribution system, and Tbilisi welcomes this.
The contract signed by SOCAR also covers issues concerning the supplies of gas to Georgia`s regions densely populated by Azerbaijanis.
While in Tbilisi, Abdullayev also attended the opening of a new gas-filling station and the Customer Service Center of SOCAR Georgia Gas.
Azerbaijan is already exporting gas to its neighbors - Georgia and Turkey. Through Turkish territory, Azerbaijani gas is being delivered to European markets and, in particular, Greece.
Azerbaijan will produce 27 billion cubic meters of gas for the first time in 2008, with this volume expected to double in five to seven years.
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