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Tag Archives: GOGC

Construction of East-West Main Gas Pipeline Underway

JSC Georgia Oil and Gas Corporation (GOGC) has launched construction of the Ksani-Lekhura 14 kilometer section of East-West main gas pipeline. The pipeline diameter is 700mm and it will replace 500 mm diameter old sections of Saguramo-Kutaisi gas pipeline. According to GOGC, the construction works will be performed by LLC …

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Chinese Consortium Plans to Launch Oil Extraction in Georgia

Chinese companies are interested in conducting oil search/extraction works in Georgia. A Chinese consortium that unites several Chinese companies has taken part in the international tender announced by Georgian Oil and Gas Corporation (GOGC) on April 3. These companies are: LLC West Gulf Petroleum Engineering Company, LLC China New Start …

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Violations in Georgian Oil and Gas Corporation

LLC Georgian Oil and Gas Corporation (GOGC) was founded under the March 21, 2006 decree of Minister of Economic Development. The state co-participation ratio in the enterprise made up 100%. LLC Georgian Oil and Gas Corporation became an assignee of JSC Georgian Gas International Corporation and JSC Georgian Oil International …

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Georgia to Sell 25% Stake in State Energy Firm GOGC in 2017

gogc3

Georgia plans to sell a 25 percent stake in the state Oil and Gas Corporation (GOGC) on an international stock exchange in 2017, the finance minister of the former Soviet republic said on Tuesday. “The corporation’s 25 percent stake will be placed on one of the exchanges abroad, in London …

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S&P Ups Rating Outlook on Georgian Oil and Gas Corporation

The International Rating Agency S&P Global Ratings had revised its outlook on Georgian Oil and Gas Corporation (GOGC) to stable from negative, the rating agency reported. S&P also affirmed ‘B+/B’ long- and short-term corporate credit ratings. “The outlook revision reflects our expectation that higher EBITDA generation should help GOGC accommodate …

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Georgia’s First Underground Gas Storage Tank to Open in 2021

Georgia will put into exploitation its first underground gas storage tank at the beginning of 2012. Temur Gochitashvili, head of the supervisory board of the Georgian Oil and Gas Corporation (GOGC), told the Business Contact that at this stage the project feasibility studies have been finished, but additional research works …

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ComfortMsheni XXI to Build Red Bridge-Gardabani Gas Pipeline Section

GOGC gardabani pipeline

Georgian company ComfortMsheni XXI has won the tender announced for constructing  the Red Bridge-Gardabani 19-km  section of the East-West main gas pipeline. The tender was announced on April 16, 2015 and four companies ehad submitted applications for participation: SakMilsadenMsheni, a branch of JSC NefteGazStroiIzolatsia, Rapid Engineering&Construction and ComfortMshen XXI. The …

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Georgia Will Manage its First Ever Gas Storage

The oil well base territory of the southern arch of Samgori has been already selected for constructing an underground gas storage. The oil well base is capable for storing 210-280 million cubic meters of oil, i.e. 15% of the current total annualized consumption. According to preliminary estimations, the project’s investment …

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Georgian State Energy Company Plans to Issue Eurobonds

EuroBonds

Georgia’s state Oil and Gas Corporation (GOGC) plans to issue Eurobonds, a banking source and a source in Georgia’s government said on Monday, Reuters Africa reports. The company plans to issue Eurobonds in U.S. dollars and has mandated Barlays and J.P.Morgan to organise the deal, the banking source said. Investor …

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Energy Sector Achievements and Challenges of 2015

Kakha Kaladze

The year of 2015 was very important and full of challenges for the Georgian power system. Many interesting projects were carried out in both generation and infrastructure parts. Georgia gives priority to hydropower system development. Large-scale projects should be implemented to this end. Real perspectives were outlined for many projects. …

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