Reference: 20160439
Release date: 31 January 2018

Promoter – Financial Intermediary

JSC GEORGIAN OIL AND GAZ CORP

Location

Description

Conversion of the depleted oil field at Samgori South Dome into an underground storage for natural gas.

Objectives

Increase security of energy supply in Georgia in case of supply disruptions and secure peak and seasonal demand of household and electricity producers without increasing Georgia's dependency on its single and key supplier (Azerbaijan).

Sector(s)

  • Energy - Transportation and storage

Proposed EIB finance (Approximate amount)

USD 100 million (EUR 92 million)

Total cost (Approximate amount)

USD 300 million (EUR 276 million)

Environmental aspects

The project is to be carried out in line with Georgian and EU environmental standards on the basis of an Environmental and Social Impact Assessment (ESIA) acceptable by the Bank.

Procurement

Procurement will be carried out in line with the EIB's Guide to Procurement.

Status

Under appraisal - 23/01/2018

Disclaimer

Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The data provided on this page is therefore indicative and cannot be considered to represent official EIB policy (see also the Explanatory notes).

Related tags

Georgia Energy