JSC Georgian Oil and Gas Corporation

JSC Georgian Oil and Gas Corporation (GOGC) is a diversified company with business activities in various segments of energy. It has the status of the National Oil Company and protects state interests in the Production Sharing Agreements signed with investors.

GOGC as the owner of the main gas pipeline system of Georgia plays a major role in ensuring the energy security of the state. It contributes to unimpeded operation of transboundary oil and gas transportation systems on the territory of Georgia which significantly increases the security of the country’s, EU and international energy markets through their diversification, manages the transit revenues. Owing to the strategic location of the country, GOGC supports development of new transit routes for full use of the energy potential of the Caspian and the Black Sea basins and further integration of Georgia into regional/global economic and political structures. GOGC diversifies its business activities, focuses on competitive power under the unified liberalized market conditions, introduces modern management skills and QC/QA measures.

GOGC is actively engaged in international projects and business relations, it plays the decisive role in implementation of the governmental economic policy of integration into Euro-Atlantic structures. Its strategic and major business partners include: SOCAR, Shah-Deniz Consortium, BP, BOTAS, ROMGAZ, MVM, PERN, UkrTransnafta, ArmGazprom, GAZPROM, TCC, GEOSTOCK, RAMBOLL, USAID, MCC, KfW, ADB, EBRD, SINOSURE etc. Securities (bonds) of GOGC are placed and succesfully traded at London Stock Exchange.

GOGC is an entrepreneurial subject with two-tier management system and is managed and directly governed by the Board of Directors led by the General Director. Simultaneously, GOGC has a Supervisory Board made of 3 members. The highest management body of GOGC is the Meeting of Shareholders.
  • Strategic Goals

    The changes ongoing in the energy resource industry, the market dynamics and so-called low carbon future place the companies operating in this sector, including GOGC, before challenges.
    As GOGC is a strategically important entity of the Georgian energy sector, our primary goal is to develop/renew the internal network of natural gas transportation for the purpose of ensuring stable supply of natural gas and produce/supply other energy resources with low carbon emissions.
  • History

    GOGC was established on March 21, 2006 as the 100% state owned enterprise on the basis of three companies owned by the Georgian state: JSC "Georgian International Oil Corporation", JSC "Georgian International Gas Corporation" and JSC "Saknavtobi" (Georgian Oil).

    GOGC changed its legal form in 2011 and the Limited Liability Company was reorganized into a Joint Stock Company.

    Based on the name, the core activities of JSC "Georgian Oil and Gas Corporation" are:

    Transportation/supply/production of oil and gas;

    Administration of state share of natural gas and oil obtained under Product Sharing Agreements and performance of their preparation, storage, transportation and sale operations;
    Commissioning, rehabilitation and replacement of main oil and gas pipelines on the territory of Georgia. Design and construction of new pipelines; Creation, development and operation of the necessary infrastructure;
    Implementation of projects related to transportation of the Caspian oil and gas, as well as oil and gas produced from other regions, via trunk pipelines on the territory of Georgia.
    By 2011, the Georgian main gas pipeline system mainly consisted of 9 gas pipelines, including the North Caucasus-Transcaucasia, Kazakh-Saguramo, Karadagh-Tbilisi, Vladikavkaz-Tbilisi, Saguramo-Kutaisi, Kutaisi-Sukhumi, Rustavi-Telavi-Zhinvali, Tsiteli Khidi-Tsalka-Alastani, Gomi-Khashuri-Bakuriani and East-West Main Gas Pipeline.
    GOGC develops actively and expands its activities, such as power generation/supply and also implements investments in renewable energy sources (wind farm).
    JSC "Georgian Oil and Gas Corporation" is managed by the Ministry of Economy and Sustainable Development of Georgia.
  • Mission Statement

    The main priorities and goals of GOGC include maximum increase of financial indicators of GOGC, ensuring energy security of Georgia and active participation in the development of oil and gas sector of the country through effective management.

Overview of our activities

Implemented and Ongoing Projects of Georgian Oil and Gas Corporation

Corporate Governance

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Subsidiary Companies

JSC Georgian Oil and Gas Corporation has subsidiaries through which the company carries out its activities.

Gardabani Thermal Power Plant LLC was established in 2012 and operates thermal power plant located in the town of Gardabani.

Gardabani 2 LLC was established in 2016 for implementing the construction and subsequent operation of the second power plant in Gardabani. Construction of the power plant was finalised in December 2019 and in March 2020 GNERC issued electricity generation license to Gardabani 2 LLC.

Underground Gas Storage Company LLC was established in October 2018 within the frames of the first underground gas storage construction project.

JSC "Georgian Oil and Gas Corporation" established a new subsidiary – "Owner of Natural Gas Transmission Network of Georgia" LLC – with 100% share participation on April 29, 2021, based on the Association Agreement reached between the EU and Georgia in 2014, within the framework of the ongoing reform of natural gas market liberalization, considering the requirements of the Law of Georgia "On Energy and Water Supply".

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Associated Companies

JSC Georgian Oil and Gas corporation implements significant projects for Georgian energy sector through cooperation with state agencies and other companies involved in the field.

To this end, the parties of a project establish associated companies where GOGC owns equity.

Enguri Pumped-Storage Power Plant LLC was established in June 2018 within the frames of the Enguri Pumped-Storage Power Plant Project.

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