Georgian will not sell its controlling stake in the North-South gas
pipeline, which transports Russian gas to Armenia, Georgian Prime
Minister Nika Gilauri said on his visit to Armenia today, News Armenia
reports.
He explained that the gas pipeline is a strategic facility, which the
government will continue to manage.
The premier announced the allocation of the shares on international
exchange markets in mid-2010. The parliament passed legislative
initiatives to allow the pipeline to be sold.
Azerbaijan's Azeri-Press Agency (APA) reported, citing the State Oil
Company of the Azerbaijani Republic (SOCAR), that the company is
interested in purchasing the North-South pipeline.
Georgian Energy Minister Alexander Khetaguri said in an interview with
Reuters that the government plans to sell 25% of the pipeline shares
using the IPO system in early February. The process may take place in
2012. Khetaguri added that they may release European bonds instead of
IPO.
