Georgia is negotiating financing of underground natural gas storage

Georgia is negotiating financing of underground natural gas storage

German Reconstruction Credit Bank (KfW), European Investment Bank (EIB), European Bank for Reconstruction and Development (EBRD) and Asian Development Bank (ADB).

Procurement of goods, services and works, related to the construction of the underground natural gas storage, based on the agreement with the financial institutions, should be performed in compliance with their procurement rules.

Expression of interest towards the construction of underground natural gas storage in Georgia will be announced in the nearest future. By the decision of the Georgian Oil and Gas Corporation, a single tender will be launched instead of the planned three-phase tender, first phase of which has already been completed. 

It is planned to construct the gas storage on the southern vault of Samgori mine and, according to the current design, it will be capable of storing 300 mln cubic meters of natural gas. Completion of the gas storage construction is planned for 2020. 

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