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Tuesday 26 May 2020

Georgia Negotiated a 15% Gas Price Reduction with Gazprom

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TBILISI (TASS) — Georgia has revised the current contract with the Russian gas holding Gazprom and negotiated an approximately 15% imported gas price cut, Minister of Economy and Sustainable Development of Georgia Natia Turnava told reporters on Tuesday.

The Minister said:

Considering the intensified competition and the global decline of petroleum products prices, we have revised the contract with Gazprom at present, which will facilitate the gas price reduction. I will not give specific figures to you on the basis of the commercial secret but I would like to say that the natural gas price will be lowered approximately by 15%.

In 2019, Georgia purchased 160 mln m³ of gas from Russia, which totalled about 5% of total imports. The country plans to purchase around 170 mln m³ of gas from Gazprom this year.

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