Georgia offers SOCAR to participate in construction of gas storage facility

Baku. 13 January. REPORT.AZ/ Georgian government offered State Oil Company of Azerbaijan Republic (SOCAR) to participate in construction of gas storage facility in the country. 

Report was told by Mahir Mammadov, Director General of 'SOCAR Energy Georgia', subsidiary of SOCAR in Georgia.

According to him, this offer was made in today's meeting held in Tbilisi between SOCAR management and Georgian government: 'In today's meeting, as well as discussion was held on participation of SOCAR in construction of gas storage facility in Georgia. There is need for gas storage facility in Georgia. Georgian government has certain decisions, steps on construction of gas storage facility. They invited Azerbaijani side, SOCAR to participate in construction of storage facility.

Notably, Georgia plans to start construction of new underground gas storage facility this year. The facility will be built in the area in southern part of 'Samgori' oil field.

Winner of International tender, France's 'Geostock SAS' company will complete feasibility works for construction of underground gas storage facility in the beginning of 2016.

In parallel, Georgian Oil and Gas Corporation (GOGC) hold negotiations with commercial banks, international financial institutions and private companies to study and optimize terms for project financing.

After completion of construction of underground gas storage facility, storage of 230-250 million cubic meters of natural gas will be possible there. It makes 15% of Georgia's annual production.