Georgia to buy 200 mln cubic meters of gas from SOCAR at discounted rate

Acting Prime Minister of Georgia Giorgi Gakharia met with President of the State Oil Company of Azerbaijan (SOCAR) Rovnag Abdullayev.

Local bureau of Report informs referring to the Georgian Government Administration.
According to the information, good-neighborly relations and partnership between Georgia and Azerbaijan in various areas were discussed at the meeting.

Particular attention was paid to the investment projects implemented by SOCAR in Georgia and the deepening of cooperation.

It was noted that the Georgian Oil and Gas Corporation successfully cooperates with SOCAR in natural gas. Another consequence of this was an agreement to stabilize the price of natural gas for social purposes in Georgia.

During the negotiations between the Ministry of Economy and Sustainable Development, Georgian Oil and Gas Corporation, and SOCAR on behalf of the Georgian government, it was agreed that Georgia would receive 200 million cubic meters of gas for social purposes at a reduced rate.

The relevant agreement, which has been in force since 2016, was signed by Minister of Economy and Sustainable Development, Natia Turnava, General Director of the state-owned energy company – Georgian Oil and Gas Corporation (GOGC) Giorgi Bakhtadze, and President of SOCAR Rovnag Abdullayev.

As a result of the agreement, the Georgian government will keep the natural gas price stable for a more extended period.