Energy Community: Georgia has big potential to become regional gas trading center
BAKU, Azerbaijan, Sept. 27
By Tamilla Mammadova – Trend:
The potential of Georgia to become a regional gas trading center is big since Georgia is the only place in the region where this can happen, said Janez Kopac Director of Energy Community Secretariat, Trend reports via Georgian media.
"Becoming a regional gas hub requires not only physical infrastructure but also a solid legal and financial framework and enough liquidity.
This means the establishment of gas exchange, unbundling of GOGC, and enactment of market rules and concepts that promote real competition, etc," he said.
According to Kopac, it would require more imports from Russia, starting to import gas from Turkey and selling so-called social gas, earned as a transit income from SOCAR on the market.
"The legal framework will be finished in two to three years, I am sure. But achieving adequate liquidity, given Georgia’s geographic position, is not only a legal but also a political challenge. With respect to the South Caucasus Pipeline, the Energy Community Secretariat and I personally welcome its expansion and the entry of additional volumes of Azerbaijani gas both into Georgia and towards Europe. I believe this will bring benefits to Georgia both in terms of strengthening energy security and increasing economic prosperity," he added.
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