The construction of an underground gas storage will start in Georgia which will ensure the elimination of existing imbalances between gas supply and consumption in the country and satisfy the peak consumption in winter, Georgia Today reports.
The information was released by Georgia’s Prime Minister Mamuka Bakhtadze on August 17.
Bakhtadze said that a 150 million Euro loan agreement will be signed between Germany's Reconstruction and Development Bank and the Georgian Oil and Gas Corporation which envisages the construction of the infrastructure of the underground gas storage.
“This project is important not only in terms of strengthening energy security, but also for stabilizing the gas supply during winter,” the Prime Minister said.
Georgian Economy Minister Giorgi Kobulia says implementation of the project will protect Georgia from risks.
“After the gas storage is constructed, the country will have gas reserves for one month and a half. This project is commercially profitable, because we can purchase the gas when it is cheaper,” the minister explained.