British Petroleum Shows Enthusiastic Support for Investment in Georgia

The South Caucasus Pipeline Expansion (SCPX) project was one of the hot topics during the business breakfast between Georgia’s Prime Minister Giorgi Kvirikashvili and representatives of British Petroleum (BP) in London on May 13. It is expected that following completion, the pipeline will extend Georgia’s role in transporting oil and gas to Europe.

In particular, the parties discussed the second phase of the Shah Deniz project. BP and its partners are now working on the SCPX project, which represents a USD 2 billion investment in Georgia over the next four years.

The SCPX works have now entered the final phase, aiming to increase the gas capacity of the pipeline to 16 billion cubic meters per year from the Shah Deniz 2 mine to Europe. The Government of Georgia announced that with this extra gas running through Georgia, the country will receive an increased supply of natural gas at preferential prices.

“We had a very fruitful meeting in which we discussed the 20 years of successful partnership between BP and Georgia,” said Bob Dudley, the Executive Director of BP, of his meeting with the Georgian PM. “We are investing billions of dollars in the pipeline and we discussed our history and future cooperation. We can share our experience with anyone who intends to invest in Georgia and we are very enthusiastic in this regard.”

Eka Karsaulidze