SOCAR Invest Georgia to create filling stations in Georgia

Vano Mtvralashvili, head of the Union of Oil Products Enterprisers, Importers and Consumers told APA bureau that SOCAR Invest Georgia has not released any official info about its activities trend.

"The nominal capital of the Company is shared by SOCAR (52%), Georgian individuals and Turkish partners," he said.

Georgia government source said the SOCAR intends to open filling stations in Georgia.

Georgia decided to sell a building worth $3m in Tbilisi to the SOCAR.

Vano Mtvralashvili said it would be difficult for the SOCAR to adapt to Georgia where there are thick chains of filling stations. Russian LUKoil is the leader in the market.

"Also, Vissol Petroleum Georgia was granted a license for 70 filling stations while only 38 stations in operation.

"Besides, Eco-Georgia and Magnat have 15 stations each, Optimum has 12, NIKoil and Magoil has 10 filling stations. In total, there are some 400 stations of which 50% are located in Tbilisi," he said.