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Georgia Will Get Additional Gas And Lower Tariffs From SOCAR

Georgia Will Get Additional Gas And Lower Tariffs From SOCAR

Energy Minister Kakha Kaladze and Rovnag Abdullayev, President of “SOCAR” have approved amended memorandum, signed in December, 2011 between Georgian government and company SOCAR.

However, amendments have been made to the document signed between “Georgian Oil and Gas Corporation” and LLC “SOCAR GAS Export-Importer” and an agreement made “on Natural Gas Sales” between “ARNSK” and “Corporation” in July, 2012. As of the amendments, Georgia will get additional gas of 500 million cubic m. In addition, social gas price from SOCAR will be declined, which partly diminishes finical loss caused by devaluation of national currency against foreign currency.

Georgia will receive additional volume of natural gas from South Caucasus (the so-called Shah-Deniz) Pipeline and problems should not arise linked to gas supply from Azerbaijan due to the technical restrictions. Besides that, “SOCAR” is ready to reduce commercial gas price for petrol stations by 35-40 USD on 1000 cubic m. It should be noted, that gas consumption in Georgia is increased by 40% comparing to 2012.