Georgian Oil and Gas Corporation talks about 2020 plans

Oil&Gas Materials 8 February 2020 09:07 (UTC +04:00)
Georgian Oil and Gas Corporation talks about 2020 plans

BAKU, Azerbaijan, Feb. 8

By Tamilla Mammadova – Trend:

Georgian Oil and Gas Corporation (GOGC) will pay special attention to the construction of the Gardabani-3 Thermal Power Plant (TPP) in 2020, CEO of the GOGC Georgi Bakhtadze said, Trend reports with reference to Georgian media.

“At the same time, we will continue to actively engage in pipeline rehabilitation projects,” he noted.

According to him, at the moment the corporation has already completed the feasibility study of Gardabani-3 TPP. The installed capacity of the TPP will be about 272 mW. In the second half of this year, it is planned to carry out construction work on the TPP project.

According to Bakhtadze, the priority of the corporation is to ensure the supply of natural gas, as well as the development of oil and gas transportation infrastructure.

“We plan to attract about 300 million euros from the market. Refinancing is intended to repay the old debt of $250 million, and the rest of the funds raised will be used to build the Gardabani-3 TPP,” he said.

According to him, the Georgian Oil and Gas Corporation has been actively involved in the production of electricity for several years as a result of the diversification of its activities.

JSC Georgian Oil and Gas Corporation is a multidisciplinary company. It has the status of the National Oil Company and protects the interests of the state in production sharing agreements signed with investors.


Follow the author on Twitter: @Mila61979356