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Gas Storage Facility Opening Rescheduled for 2023

The underground gas storage facility will launch operation in 2023, Natia Turnava, Deputy Minister of Economy and Sustainable Development, noted at the parliament’s committee for economy and economic policy, when introducing a repot on performed job.

“Underground gas storage facility is being developed due to the plan, in line with our obligations. The project consists of two phases. The first stage calls for specifying the feasibility studies. and the works are being performed by a French company. Currently, the company is performing drilling works. At the same time, as part of KfW loan, tender has been announced to select contractors, which will perform both designing works and purchasing and construction works. The tender has not been completed yet. The tender is being held under regulations of KfW and the World Bank (WB). Information on the tender results will be published. The project will be implemented for four years and it is expected to end in 2023 if the feasibility studies have not revealed any critical components. The facility is expected to launch operation in 2023”, Natia Turnava said. 

We remind you that the deadline for opening the facility was rescheduled several times. According to the last deadline, the facility was to open by the end of 2021.

The project implementation is financed by KfW (150 million EUR) and European Investment Bank (EIB – 100 million USD).