BAKU, Azerbaijan, Dec. 3
By Fidan Babayeva – Trend:
The State Oil Company of the Azerbaijan Republic (SOCAR) invested more than $1.1 billion in the Georgian economy from 2007 to 2019, Trend reports referring to SOCAR’s report "Sustainable Development".
In accordance with the data, presently, SOCAR Energy Georgia, SOCAR Georgia Petroleum, SOCAR Georgia Gas, SOCAR Georgia Security, and the Kulevi oil terminal are successfully operating in Georgia.
These companies paid the tax worth $1.5 billion to the Georgian state budget during 12 years. This amount is approximately equal to the amount paid by SOCAR to the Azerbaijani budget for one year. SOCAR is also the biggest taxpayer in Georgia.
SOCAR Georgia Petroleum organizes the wholesale and retail sales of oil products of Azerbaijan, as well as third parties in the Georgian market.
The main activity of SOCAR Georgia Gas is to ensure the implementation of the Georgian program on the gas provision. The company supplies and distributes natural gas to the Georgian regions and operates a local gas network with more than 715,000 subscribers.