Azerbaijan, Baku, Oct. 26 / Trend E.Ismayilov /
Based on the forecasts, the Sate Oil Company of the Azerbaijan Republic (SOCAR) will invest about $100 million under the three-year program on gasification of 31 gas situations in Georgia, a source in SOCAR Energy Georgia said on Tuesday. SOCAR Energy Georgia is a subsidiary of SOCAR.
The volume of investment also includes the work on gasification to be carried out in Poti, the source said.
The source said presumably, the volume of investment is expected to hit $ 100 million plus or minus five percent on the three-year program. The volume of funds will fluctuate depending on the cost of services and building materials.
The source said earlier that SOCAR has already covered about 85,000 subscribers under the three-year program on gasification in Georgia. The company plans to increase number of subscribers from 60,000 to 150,000 in total, then source said earlier.
On Dec. 26, SOCAR and the Georgian Government signed an agreement to operate 30 gas supply grids and gas distribution networks in the Kakheti, Mtskheta-Mtianeti, Shida and Kvemo Kartli, Ajaria, Guria, Imereti, Samegrelo regions of Georgia. These networks are operated by 24 companies.
In April, SOCAR Energy Georgia acquired a gas distribution network in the Marneuli region populated by Azerbaijani community. Marneuli has 31 gas supply grids operated by SOCAR Georgia.
Gas distribution networks in Marneuli were previously owned Wissol, which bought gas from SOCAR and was selling it in Marneuli. Now the whole cycle of works in this direction will be implemented by SOCAR Energy Georgia.
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