Construction of Gas Storage Facility to Guarantee Uninterrupted Supply

Construction of an underground gas storage facility, capable of storing 230-250 million cubic meters of gas, is to begin this year with a USD 230-250 million investment.

“Georgia is the only country that does not have a gas storage facility, which is a significant problem in case of an unplanned termination of gas, as well as the seasonal imbalance between supply and consumption,” the Georgian Oil and Gas Corporation stated.

The amount of gas able to be stored in the new facility amounts to around 10-15% of the current total annual consumption.

French company GEOSTOCK SAS, selected through an international tender, will complete a feasibility study of the underground gas storage facility early this year. Georgian specialists will also participate in preparation of the gas storage feasibility project.

The agreement between the Georgian Oil and Gas Corporation and SOCAR, signed in June, 2015, promises the gas storage project European standards and technical regulation compliance, as well as safety and environment protection in accordance with international standards.

According to preliminary estimates, in case of a delay of gas supply from outside the country, the gas storage facility will be able to fully provide an uninterrupted supply to the country’s population and energy sector in critical situations.

Construction is planned for completion in 2019.

Ana Akhalaia

11 January 2016 19:26