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Revisions Needed for AGRI Project’s Feasibility Study

Revisions Needed for AGRI Project’s Feasibility Study

Azerbaijan-Georgia-Romania Interconnector (AGRI) project is not just an issue of strategic thinking; it is first of all an issue of commercial interest, says Romanian ambassador to Georgia Radu Liviu Horumba. “For the moment, we have discussed the feasibility study that was done and this discussion continues at the governmental level,” …

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SOCAR: we Hope, Investments Made by us Will Reflect on the Rate

SOCAR: we Hope, Investments Made by us Will Reflect on the Rate

SOCAR Georgia Gas hopes that tariff review process will not prolonged by Georgian National Energy and Water Supply Regulatory Commission. Azer Mamedov, general director of  the company told the reporters that the company is demanding  revising tariff of the distribution segment, while he did not specify whether the gas tariff …

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Socar Georgia Petroleum Appoints New General Director Levan Giorgadze

Levan Giorgadze

Socar Georgia Petroleum appointed Levan Giorgadze as a new general director of the company. Giorgadze replaced former General director Davit Zubitashvili who by this time is appointed as a chair of a council. SOCAR Georgia Petroleum, Ltd is the largest importer of petrol and diesel in Georgia. It imports up …

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MIGA Guarantee for TANAP to help Draw in Commercial Banks

MIGA Guarantee for TANAP to help Draw in Commercial Banks

The board of the Multilateral Investment Guarantee Agency (MIGA) has approved a guarantee for up to $1.2 billion for the Trans-Anatolian Natural Gas Pipeline (TANAP) project, a source in MIGA told Trend Dec.30. “The guarantee is expected to help draw in commercial banks that will contribute to long-term financing needs …

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Fuel Prices to Increase in Georgia

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The fuel has become more expensive in Georgia. Fuel importer companies explain this with the inflation of GEL exchange rate. During last week, the price of premium increased with 3 tetri according to the company “Prego”.  There are expecting it will increase again in January. 5 tetri increases has been …

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SOCAR Drilling New Well at Oldest Oil field in Caspian Sea

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Azerbaijan’s state oil company SOCAR will additionally produce about 3,650 tons of oil annually, thanks to the commissioning of a new well that is being drilled at the Oil Rocks offshore field, SOCAR said in a message posted on its website Nov. 24. The well’s projected depth is 1,700 meters …

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SOCAR Talks Implementation of AGRI Project

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The Azerbaijan-Georgia-Romania Interconnector (AGRI) project is not dead, but its implementation needs time, Suleyman Gasimov, vice-president for economic issues at Azerbaijan’s state oil company SOCAR, said, Romanian media reported. Gasimov said that the project requires big investments. “It is necessary to build a terminal in Georgia, and then another one …

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Construction Work at Baku Refinery to Start in March 2017

Construction Work at Baku Refinery to Start in March 2017

Construction work on the territory of Heydar Aliyev oil refinery in Baku will commence in March 2017, Tofig Gahramanov, the SOCAR vice-president for strategic development, told reporters in Baku. The FEED project (Front End Engineering Design) on new installations will be finished in December, said Gahramanov. The all-factory (including buildings, …

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SOCAR Reveals Volumes of Gas Export to Georgia, Iran

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Azerbaijan’s state oil company SOCAR exported 715.9 million cubic meters of gas to Georgia in January-September 2016, said Rahman Gurbanov, SOCAR vice president for oil and gas transportation and gas facilities, in his interview published by Natural Gas World Nov. 2. Meanwhile, Azerbaijan swapped 167.3 million cubic meters of gas …

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