A feasibility study into an underground gas storage project in Georgia will be ready by the end of 2015, and its construction is scheduled to begin in 2016.
The Georgian Oil and Gas Corporation held a meeting with companies wishing to participate in the tender for the preparation of a feasibility study on the subject. The tender was announced on January 14, the deadline for applications and documents expires on February 26th.
The meeting was attended by representatives of 18 companies from Georgia, Ukraine, Italy, Germany, Denmark, Holland, Czech Republic, Turkey, China and Latvia, as well as representatives of the Partnership Fund.
After the completion, Georgia will be the only country in the region with an underground gas storage facility. According to representatives of the corporation, it would be an object of strategic importance, which will enhance the energy security of the country, supply gas to consumers in the event of disruption of supplies from abroad and reduce the seasonal imbalance between supply and consumption of gas.
The capacity of the new underground storage facility will be 230-250 million cubic meters of natural gas, or 15 percent of annual gas consumption in Georgia.
