Azerbaijan, Baku, July 24 / Trend E. Ismayilov /
SOCAR, operating actively in Georgia, has invested in this country about $ 470 million, a source said.
In particular, SOCAR includes dozens of gas distribution networks in Georgia. The company owns the oil terminals in Kulevi. Azerbaijan exports its oil and gas through the Baku-Tbilisi-Ceyhan oil pipeline and the Baku-Tbilisi-Erzurum gas pipeline through Georgia.
The company also actively developed its activity in the retail sales of oil products in Georgia. Now about 37 petrol stations under SOCAR brand operate in different regions of the country.
A source said that SOCAR intends to open 23 more petrol stations in Georgia by late 2010, bringing the total number up to 60 units.
SOCAR's interests in Georgia is its subsidiary SOCAR Energy Georgia. Its co-founders are: SOCAR - 51 percent, Petro-Trans FZCO - 24,5 percent and Ivan Chkhartishvili - 24,5 percent.