A company Frontera Resources (USA) has revealed natural gas reserves in the amount of 42 billion cubic meters in the Mtzare Heavy deposits (Eastern Georgia.) "It was established that gas reserves in this field total 42 billion cubic meters, which will provide energy independence for Georgia," said on Friday President of the Frontera Resources, Steve Nikandros, at the ceremony of starting deliveries of gas from the field to the gas network of the country; $ 400 million were invested to the project. According to the executive director of Frontera Eastern Georgia, George Zambakhidze, more than 75,000 cubic meters of gas will be produced from the field.
Georgia consumes about 2,000 cubic meters of gas. Almost half of this amount, the country receives from Azerbaijan at a discounted price.
For Russian gas transit Georgia receives 10% of its total deliveries to Armenia.
Gas from Azerbaijan to Georgia comes under two contracts - on the first contract 500 million cubic meters it is received at $189. This is so-called "social gas", intended for the public.
Under the second contract comes commercial gas of 400 million cubic meters, priced at $ 240 per 1,000 cubic meters. -02D-
Economics
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Kazakh Energy Minister Almasadam Satkaliyev said on Monday that Kazakhstan and Azerbaijan continue to discuss prospects for transporting Kazakh oil through the Baku-Supsa oil pipeline, which has been idle since spring 2022, Kazakh media reported.
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The supply of Azerbaijani gas to North Macedonia will transition to a regular basis in the mid-term, an informed source told Turan.
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In Azerbaijan, the minimum consumption basket may be reassessed next year. This was discussed during a joint meeting of parliamentary committees. The last changes to the consumption basket were made a decade ago. However, during this period, inflation has risen, and the cost of the minimum living standard has also increased. Moreover, some experts believe that the current minimum consumption basket in Azerbaijan requires significant updates, with the inclusion of additional goods and services.
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Azerbaijan's draft state budget for 2025 prioritizes strategic objectives outlined by President Ilham Aliyev, including economic growth, social development, and reconstruction of liberated territories, according to senior officials speaking at a parliamentary session on Monday.
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