Georgian Energy Ministry: Management issue of KazTransGas-Tbilisi to be decided in May

Photo: Georgian Energy Ministry: Management issue of KazTransGas-Tbilisi to be decided in May / Oil&Gas

Georgia, Tbilisi, Jan. 28 / Trend N.Kirtskhalia /

The decision on whether the interim manager will continue to work for KazTransGas-Tbilisi or be replaced by Kazakh management will be made in May. This was announced by the Deputy Minister of Energy of Georgia, Mariam Valishvili on Monday.

"The process of debt repayment by the company is underway and a decision on extending the term of the manager will be made in May," she said.

Kazakh KazTransGas became the owner of the assets of the Tbilisi gas distribution company Tbilgaz after gaining on the investment rate in May 2006. Investors paid $12.5 million for the company.

In 2009, the Georgian National Regulatory Commission for Energy and Water appointed a special manager to KazTransGas-Tbilisi. The reason for the change in leadership was the company's debt of 80 million lari (GEL 1=$ 0.5742), including 68 million lari to the Georgian Oil and Gas Corporation.

In November, the Georgian Minister of Energy and Natural Resources, Kakha Kaladze said that the government is ready to discuss the issue of replacing the interim manager of KazTransGas-Tbilisi and returning the company management to the Kazakh side.

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