The new acquisition is continuation of the measures being implemented by SOCAR Georgia Gas over the past years as part of a large-scale project for managing a gas distribution network in Georgia, SOCAR said.
"From the point of view of corporate strategy, these assets are components of a single gas distribution project in the country," SOCAR noted. "Addition of assets in the Telavi district expanded the scale of gas distribution operations throughout the entire Kakheti region and most of Georgia, with the exception of Tbilisi."
SOCAR exports gas being extracted at Azerbaijani fields through its own funds to Georgia without participation of foreign companies. Moreover, Georgia receives Azerbaijani gas extracted at Shah Deniz offshore field with participation of SOCAR and foreign companies.
Presently, SOCAR is the major supplier of natural gas, oil and oil products to Georgia. SOCAR’s subsidiaries are engaged in expansion and modernization of the country’s gas distribution systems, development of filling stations under SOCAR’s brand and have an oil terminal in Georgia’s Kulevi Black Sea Port, which supplies Azerbaijani oil and oil products to the world markets.