BAKU, Azerbaijan, Jan. 15
By Tamilla Mammadova – Trend:
The start date for the commissioning of the gas storage has been postponed in Georgia from 2023 to 2024, Trend reports citing Georgian media.
The Georgian Oil and Gas Corporation (GOGC) said the tender process has already begun. After the announcement of the winner, construction of the energy facility will commence.
“The proposals are being evaluated. We expect to find a contractor in the first quarter of this year. In the second quarter of 2020, it is planned to begin construction of the first stage of the gas storage, which will include the drilling of two exploratory wells,” the company noted.
“We look forward to the completion of the first phase by the end of 2021. Then, a large-scale construction work will begin. We expect that the facility will start functioning by the beginning of 2024,” the company said.
KfW, a German government-owned development bank, signed promotional loan 150 million euros with the state-owned GOGC for the construction of the first underground gas storage facility in Georgia. The total investment in the project amounts to some 220-250 million euro and is to be financed by KfW, together with the European Investment Bank (EIB) and GOGC.
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