SOCAR to invest in Georgia's gas distribution system
The president of Socar Energy Georgia, Mair Mammadov, says that with the $23 million investment plan for the first fiscal year they have spent $15-16 million for gasification in Georgia.
The agreement on regional gas distribution companies of Georgia was signed on 26 December 2008 in Tbilisi by SOCAR president Rovnag Abdullayev and then Georgian economy minister Lasha Zhvaniya.
Under the contract, SOCAR has the right to gasify 30 cities and districts (over 150,000 gas consumers) in regions of Georgia and invest $40 million in industry development.
Initially the investment plan supposed expansion of up to 250,000 gas consumers. In order to provide coordinated number of consumers, the Company will have to supply 250-300 million cu m of gas against existing demand for 60 million cu m.
Starting from 10 February 2009 the gas networks transferred under authority of SOCAR Georgia Gas.
| Concerned URL | http://www.abc.az/rus/news_11_01_2010_41639.html [] |
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| Source of information | Azerbaijan Business Center |
| Release date | 11/01/2010 |
| Contributor | Elena Nikitina |
| Geographical coverage | gas, energy |
| Keywords | Georgia |