SOCAR to increase gas supplies to Georgia (UPDATE)

Details added (first version posted on 14:29)

Baku, Azerbaijan, March 4

By Anvar Mammadov - Trend:

State Oil Company of Azerbaijan (SOCAR) has signed an agreement with the Georgian government on additional supplies of natural gas in the amount of 463 million cubic meters, Director General of 'SOCAR Energy Georgia' Mahir Mammadov said in an exclusive interview with Trend March 4.

Earlier, SOCAR President Rovnag Abdullayev said that Azerbaijan will additionally supply 500 million cubic meters (mcm) of gas a year to Georgia.

"Previously, we supplied 800 mcm of gas a year to Georgia from the Shah Deniz," he said. "We have managed to increase the supply through that route to 1.5 billion cubic meters (bcm), as well as to 1.5 bcm via a pipeline connecting the two countries in Azerbaijan's Gazakh district."

In accordance with the agreement, Georgia will receive additional gas volumes from Azerbaijan.

Georgian online newspaper 'Georgia Online' reported that according to the country's energy ministry, SOCAR expressed readiness to reduce the price of commercial gas for the Georgian gas filling stations by $35-$40 per 1,000 cubic meters. Compared with 2012, gas consumption in Georgia increased by 40 percent, which made it necessary to purchase additional volumes, according to the country's energy ministry.

Georgia's annual gas consumption stands at 2.4 bcm.

Some 750 to 800 mcm of the gas is being supplied from the Shah Deniz field to Georgia annually, 1.4 bcm by SOCAR, and 200 mcm by Russia.

Azerbaijan exports gas to Georgia via a pipeline linking the two countries in the Azerbaijani district of Gazakh.

This pipeline can pump more than 2.5 bcm of gas a year.

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