Shah-Deniz Project to be Signed in Georgia

The heads of the South-Caucasian Gas Pipeline Company and the Georgian International Oil Corporation (GIOC) will today sign an agreement on delivery of natural gas to Georgia. 

Under the agreement, the investors will secure duly supplies of natural gas to Georgia. After construction of the Baku-Tbilisi-Erzurum gas pipeline, Georgia will receive 5 % of gas transported from Azerbaijan to Turkey as a transit country.

Moreover, Georgia will purchase additional amount of gas at a reduced price ? USD 55 per thousand cubic meters within 20 years. Currently Georgia purchases gas from Russia at USD 60 per thousand cubic meters.