State Energy Companies to Merge

The Georgian Economy Ministry has announced plans to unite three state-run companies – Georgian International Gas Corporation (GIGC), Georgian International Oil Corporation (GIOC) and Georgian state oil company SakNavtobi – into one corporation, the Georgian media reported.

The Economy Ministry cited the need to increase the efficiency of these companies as the reason behind this merger.

The Georgian International Gas Corporation (GIGC) manages the gas pipeline system in the country. The Georgian International Oil Corporation (GIOC) mainly deals with issues of oil transportation via Georgia. The Georgian state oil company – SakNavtobi – is engaged in oil and gas exploration, extraction, exploitation, processing and sales.