US Trade and Development Agency Assists Strategic Energy Projects in Georgia

(Tbilisi, Civil Georgia, August 9, 2002) – The U.S. Trade and Development Agency (TDA) has committed almost USD 1 million to assist Georgia in planning and implementing oil and gas projects designed to enhance energy security.

In a ceremony at the U.S. Embassy, U.S. Ambassador Richard Miles and Gia Chanturia, President of the Georgia International Oil Corporation (GIOC) signed a $683,000 grant agreement for a feasibility study on an Underground Gas Storage project.

Ambassador Miles and Mr. Chanturia also signed a $270,000 grant amendment to extend the work of an environmental consultant who is assisting GIOC on the Baku-Tbilisi-Ceyhan Oil Pipeline project and the South Caucasus Gas Pipeline project.

Richard Miles, the US envoy to Georgia expressed hope that the funding would improve ecological security of the projects.