BAKU, Azerbaijan, April 23. Georgia, almost entirely dependent on fuel imports, has seen domestic prices rise by more than 46% amid rising prices for oil and petroleum products on global markets, Mirza Shavgulidze, head of the commercial department at SOCAR Georgia Petroleum, said during the Second Caspian and Central Asian Oil Logistics and Trading Forum in Baku, Trend reports.
According to him, as the market developed, systemic constraints that needed to be addressed became apparent.
"These include a shortage of railcars, limited storage capacity for petroleum products, and pressure from transit flows, albeit to a lesser extent," he noted.
Shavgulidze emphasized that Georgia's geographic location between the Caspian and Black Seas creates significant transit potential.
"Georgia's strategic location between the Caspian and Black Seas offers unique opportunities for the transit of oil and petroleum products. However, to realize this potential, it's necessary to address current logistical bottlenecks, primarily by increasing the railcar fleet and expanding storage capacity," he added.