SOCAR supplies 90% of Georgian gas

May 08, 2015 12:00 AM

Azerbaijan’s state energy company SOCAR controls about 25 percent of the retail market of oil products in Georgia, SOCAR head Rovnag Abdullayev told local media.

Today, SOCAR provides 90 percent of Georgia's gas supply explained Abdullayev.

"SOCAR manages dozens of gas distribution networks in Georgia. Besides, we control about 25 percent of the retail market of petroleum products. Kulevi terminal "Black Sea" allows us to receive, store and ship up to 10 million tons of oil per year. This terminal has an important role in the transport of oil and oil products not only from Azerbaijan but also from Central Asia," said Abdullayev.

The development of assets in Abdullayev's opinion is a priority goal of the State Oil Company.

SOCAR Energy Georgia, Ltd was founded in 2006. SOCAR Georgia Petroleum, Ltd is the daughter company of the SOCAR through 100% share participation.

He also noted on the importance of energy cooperation with Turkey.

"The construction of the refinery Star, designed to provide raw material of the petrochemical producer Petkim, container port and power plant, will enable us to transform a chain of large enterprises to the largest petrochemical, logistics and port center in the region by 2023," he said.

Abdullayev also mentioned the activities of the company SOCAR Trading S.A., established to provide direct sales of oil to consumers on favorable terms, revenue optimization and centralization of activities.

"The company gained notoriety in a short time and by means of its offices in Geneva, Singapore, Turkey, UAE, Nigeria and Vietnam, strengthened its positions in the markets of East and South-West Europe, North and West Africa, Southeast Asia and the Mediterranean basin. Our trading company is successfully continuing the construction of the terminal in the port of Fujairah OAU. 12 tanks have already been put into operation," said Abdullayev.

SOCAR is involved in exploring oil and gas fields, producing, processing, and transporting oil, gas, and gas condensate, marketing petroleum and petrochemical products in domestic and international markets, and supplying natural gas to industry and the public in Azerbaijan. Three production divisions, two oil refineries and one gas processing plant, an oil tanker fleet, a deep water platform fabrication yard, two trusts, one institution, and 22 subdivisions are operating as corporate entities under SOCAR.

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