BAKU, Azerbaijan, November 14. The volume of investments made by the State Oil Company of Azerbaijan (SOCAR) in Georgia has reached $2.1 billion, Azerbaijan's Minister of Energy, Parviz Shahbazov, wrote on his X page, Trend reports.
"We discussed the priorities of our strategic energy partnership and the development of new projects on a mutually beneficial basis with Mariam Kvrivishvili, the Minister of Economy and Sustainable Development of Georgia, in Tbilisi. SOCAR's investments in Georgia have reached $2.1 billion. During January-September, 1.5 bcm of natural gas were supplied to the country, and electricity exports amounted to 372 million kWh," he noted.
SOCAR is one of the largest investors in Georgia. Established in 2006 as the first foreign subsidiary, SOCAR Energy Georgia is involved in the wholesale and retail sales of oil and gas products, as well as in the development of the gas distribution network and natural gas supply throughout Georgia. More than 30,500 kilometers of pipelines have been developed and rehabilitated in the country, which allows for the supply of gas to over 930,000 customers.