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Georgia to part with oil and gas2011-02-10 17:35
Georgia is considering the possibility of selling a block of stocks of the State Oil&Gas Corporation at one of the international trading sites, Day.az reports.gt-en-newsitem-inside
Such statement was made by Minister of Energy of the republic Alexander Khetaguri. The number of shares offered for sale by the current Georgian authorities is 25 percent.
Head of the Ministry of Energy also underlined that he is considering the possibility of using other methods of attracting capital to the company, for instance, by way of issuing Eurobonds. According to Khetaguri, the government's final aim is the full privatization of the energy sector.
State Oil and Gas Corporation is engaged in exploration, production and export of hydrocarbons, as well as n energy resources transit. One of the major sources of income is the collection of transit payment for the North-South gas pipeline carrying gas from Russia to Armenia.