Thursday, 26 August 2010

SOCAR keen to acquire Georgia's gas network

The State Oil Company of Azerbaijan Republic (SOCAR) has notified the Georgian government of its interest in the privatisation of Georgia's gas system, including the main gas pipelines, if the Georgian government were to decide to sell.

“We expect Georgia to decide its plans in the near future. If the country's government country decides to privatize, we will take part," said a SOCAR spokesperson.

SOCAR's interest in Georgian assets has been echoes by Kazakhstan's state oil and gas company, KazMunayGaz. While, the Armenian government, has shown interested in buying the Georgian section of the Russia-Armenia gas pipeline.

SOCAR has already purchased privatised gas-distribution networks in 30 Georgian districts and is presently developing its acquisitions. The company has an interest in a wide range of Georgian assets including the Kulevi oil terminal on the Black Sea coast and a network of petrol stations.

Source: News Azerbaijan

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