Tbilisi puts “Georgian oil and gas corporation”, “Georgian railway”, “Georgian energy system” on sale

The government of Georgia intends to sell the shares of “Georgian oil and gas corporation” that owns North-South gas pipeline. APA reports that Georgian Minister for Energy and Natural Resources Georgi Khetaguri said it was discussed at the recent meeting of the government and the draft amendments were approved.

Khetaguri said the shares will be put on sale in London, New York and other leading stock exchanges. In the initial stage, 25 percent of the shares will be put on sale.
“Along with the shares of “Georgian oil and gas corporation”, the shares of “Georgian railway”, “Georgian energy system” and other strategic companies will be put on sale in western stock exchanges. Khetaguri said the initial process started.
“We have agreed with the investment banks to start registration for the placement of shares in the stock exchanges,” he said.

Khetaguri’s statement caused concern in Armenia. Armenian publications write that the fate of the Georgian part of the gas pipeline from Russia to Armenia may be brought into question. Armenian newspapers write that Azerbaijani companies may buy the management right of the pipeline.


/APA/