Gazprom Export agrees gas transit terms through Georgia

Gazprom Export agrees gas transit terms through Georgia
Image courtesy of Gazprom

Gazprom Export signed an agreement with a Georgian company regarding terms of Russian gas transit to Armenia through Georgia.

In accordance with the agreement, Gazprom guarantees to pay for services of transiting Russian gas through the Georgian territory to Armenia in 2017-2018 in the volume of 2.0-2.2 bcm per year as well as supplying Georgia with natural gas on flexible terms at the price which is by US$30 per 1000 cubic meters lower than in 2016.

Earlier the services of transiting gas via the territory of Georgia were paid in kind, by physical supplies equivalent to 10 percent of natural gas transported through Georgia to Georgian consumers. Under the new agreement, the parties agreed to shift to currency transaction for gas transit services.

According to Elena Burmistrova director general of Gazprom Export, said the parties have worked out optimal commercial conditions for both sides.

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