Azerbaijan to supply gas to Georgia for another 20 years
The agreement on supplies of Azerbaijani gas to Georgia has been extended by another 20 years. The contract had been in force since 2003 and was due to expire in 2026.
Gurban Gurbanzadeh2 min read
The agreement on supplies of natural gas from Azerbaijan to Georgia has been extended by another 20 years. According to Georgia's Ministry of Economy, this was the result of the successful conclusion of intergovernmental negotiations between the two countries.
The gas purchase and sale contract between Georgia and Azerbaijan has been in force since 2003 and was due to expire in 2026.
"We conducted negotiations with our neighbour Azerbaijan in conditions of friendship and mutual respect and reached mutually beneficial agreements," said Georgian Deputy Economy Minister Gennadi Arveladze.
According to the ministry, the entire volume of natural gas envisaged by the agreement will be directed to covering the needs of Georgia's gas sector. This guarantees the sector uninterrupted and stable gas supplies.
Agreement on the Baku–Supsa oil pipeline
The intergovernmental agreement also provides for the conclusion of an operational agreement between SOCAR Midstream Operation LLC of the State Oil Company of the Republic of Azerbaijan (SOCAR) and the Georgian section of the Baku–Supsa oil pipeline.
The document covers the operation and technical maintenance of the pipeline's transit route, as well as the operation of the Baku–Tbilisi–Supsa oil pipeline and the Supsa terminal.
"As is known, this pipeline has not been in operation for the past few years. Therefore, the Azerbaijani side undertakes to restore its operation. This will bring our country additional income," Arveladze noted.
According to the Georgian side's assessment, the package of large-scale agreements signed in the energy sector is of historic significance. It is noted that the agreements will allow the two countries to further deepen their economic ties and strengthen Georgia's energy security.
Source: modern.az
