Investors and Georgia Sign Agreement on Baku-Tbilisi-Erezrum Gas Pipeline

(Tbilisi, March 14, Civil Georgia) – Georgian government and foreign investors sign an agreement on Baku-Tbilisi-Erzrum gas pipeline construction on March 14.

International Oil Corporation of Georgia reports that with the signing of the agreement, construction of the gas pipeline will start. 

On December 19 Georgian Parliament ratified the interstate agreement on Baku-Tbilisi-Erzrum pipeline.

According to President Shevardnadze starting from 2004 Georgia will earn annual 175 million USD from Baku-Tbilisi-Erzrum pipeline, which would have 245 kilometers on Georgian territory.

Baku-Tbilisi-Erzrum line is important, because after its launching Georgia will not be dependent only on Russian ITERA Company – the only supplier of natural gas for Georgia at present.

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This post is also available in: ქართული (Georgian)