Georgia pays debt to SOCAR

Georgia pays debt to SOCAR
Georgia pays debt to SOCAR

"Georgia owed SOCAR. According to the agreement, it should have been repaid within four years, but the country repaid the debt altogether," SOCAR Energy Georgia CEO told Azerbaijani media.

As it turns out, both SOCAR and Georgia have taken steps to reach an agreement between the Azerbaijani company and Georgia to reduce natural gas's purchase price. Georgia paid off the company's debt in full, and the company reduced the social gas tariff for Georgia.

The company also says that the old price was high and did not reflect the existing reality.

As for future relations, according to the CEO of SOCAR ENERGY GEORGIA, time will show the need for a new decision.

"Our contract is a living mechanism, and we are constantly talking about its various provisions, improving cooperation, trying to adapt to new challenges and market trends," said Mahir Mammadov.

According to the agreement signed on December 17, Georgia will buy part of the gas from SOCAR at a discounted price. The discount is 200 million cubic meters.

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