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KFW to Allocate a Loan of 150 MLN Euros to Georgia for Construction of Gasholder

Construction of gasholder will be started in Georgia. 

As the Prime Minister of Georgia stated at the briefing held before the government session, a loan agreement for 50 mln euros will be concluded between the German Reconstruction Bank (KfW) and the Georgian Oil and Gas Corporation.

“We will build infrastructure for an underground gasholder. By constructing the gasholder, the country will have an infrastructural site of strategic importance, which will significantly strengthen the energy security and independence of the country. The project will ensure elimination of the gap between gas supply and consumption and satisfaction of the peak demand in winter,”- stated Bakhtadze at BM.ge and added that this project is important not only for strengthening of energy security, but for stable gas supply in winter as well.