Georgia's New Gas Storage And Coal-fired Power Plants

- Jan 02, 2018-

On November 30, Reuters reported that Georgia plans to build its first underground gas storage facility and a coal-fired power plant.

Georgia's state oil and gas company (GOGC) has been authorized to build gas storage facilities at an oil field in the capital tbilisi, which has completed a feasibility study.According to the company, several companies have expressed interest in bidding, and the list of winners will be announced in May 2018.

The total cost of the project is $250 million to $300 million.Once completed, between 2021 and 2022, the project will store 250 million to 280 million cubic meters of natural gas, or about 15 percent of the country's total gas consumption.

Separately, on November 29th Georgia struck a deal with China Eastern electric group to build a 300-megawatt coal-fired power plant.China Eastern electric group has also struck an electric deal with Georgia power.The project is expected to cost $250 million, starting in 2018 and starting in 2020.The plant will meet Georgia's winter electricity and export electricity to Turkey in the summer.