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Georgia: The Next Energy Supplier for Europe?
Posted: 2015-10-26
Recent studies performed by an independent US oil and gas exploration company confirm that Georgia has an extensive gas resource potential, much more significant than previously thought by experts. The geologic and geophysical studies now back-up the country’s huge potential for foreign investment, especially in the natural gas sector. An oil and gas company in Georgia will need special permits for functioning but if you want to invest in this area, our company registration experts in Georgia can help you.
An extensive gas resource potential in Georgia
The official information disclosed earlier this month by the company that performed the studies indicates that there is an extensive integrated gas resource potential, much larger than previously thought. The analyzed area is located in what has been called the South Kakheti Gas Complex – an integrated geological unit of 2,000 square kilometers.
The ongoing research and exploration have managed to identity so far some 135 trillion cubic feet of gas found at 300 meters underground to 5,000 meters. This is a breakthrough discovery and one that will allow Georgia to gain its energy independence at the same time providing gas to external markets.
What this means for investors
With Georgia discovering its true energetic potential, the gas market in the area might be in for some significant changes. Experts believe that once the country will be exploiting this new resource, it will become a strategic supplier of gas to Turkey and the rest of the consumption markets in the European Union.
At the moment Georgia is a transit country for the Southern Gas Corridor project – an initiative to bring gas from the Caspian and the Middle Eastern regions to Europe. The recent find has the potential to completely change this as the country has high changes evolving from a transit country to a key supplier.
The South Kakheti Gas Complex has just began to reveal its potential and it is still in its very early stages of development. However, experts believe that its evolution could be boosted by foreign investors who will decide to make a strategic investment.
If you are interested in opening a company in Georgia and need professional assistance or advice you can contact our company registration experts in Georgia.
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