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Azerbaijan to increase investments in Georgiaâ€™s energy sector

27 December 2008 11:24 (UTC +04:00)

Georgia. Nizami Mammadzadeh â€“ APA. State Oil Company of Azerbaijan Republic (SOCAR) intends to increase investments in Georgiaâ€™s energy sector, SOCAR President Rovnag Abdullayev told APAâ€™s Georgia bureau.
Abdullayev said that the company had invested $400 million in the construction of Kulevi Oil terminal in Georgia. About 20 gas filling stations under SOCAR brand were opened in the country. Rovnag Abdullayev said the number of economic projects would be increased.
â€œWe have increased sale of fuel in Georgia by 65-70%. We plan to increase it,â€ he said.
Rovnag Abdullayev noted that they also planned to extend their activity in Georgiaâ€™s gas market.
â€œWe consider that we will take our place in Georgiaâ€™s gas market. We signed a contract with Georgian government to assume the gas supply of the country. In general, we carry out gas supply policy in Georgia. This project will also influence the social position of the Azerbaijanis living in Georgia,â€ he said.
According to the outcomes of 2007, SOCAR Energy Georgia was named as the largest tax payer in selling Georgiaâ€™s oil products. In the reporting year the company paid $60 million to Georgiaâ€™s state budget. Moreover, the company implemented the project on reconstruction of Kulevi terminal.
SOCAR Energy Georgia intends to sell 350,000 tones of oil products in 2008, 75% up compared with 2007.