Georgia, SOCAR agree to reduce gas tariffs for new customers

"We had difficult and long-running negotiations which ended successfully and the re-connected customers will pay at lower rates," Khetaguri said noting that the decrease in gas tariff will apply to the residents of Tbilisi, as well as the other regions of Georgia.

Customers who newly connected to the gas network of the country paid 0.75 lari (1.68 lari is $1) per cubic of gas in Tbilisi. From Sept. 1 they will pay 0.50 lari per 1 cubic meter of gas as other customers. In regions tariff will be cut by 0.20-0.25 per 1 cubic meter.

SOCAR is a major supplier of natural gas to Georgia. Its subsidiary company SOCAR-Georgia intends to provide additional 57,000 subscribers of Georgia with gas by late 2009.

"The cut will be significant for our people on the eve of the coming of winter and it becomes possible thanks to our Azerbaijani partners," Khetaguri said.

Khetaguri said this agreement is intended for the future, as 45 percent of the country's population is will be supplied with gas.

/Trend Capital/