Agreement Reached between GOGC and MCG

25 December, 2007
The agreement between Georgian Oil and Gas Corporation and Millennium Challenge Georgia Fund signed On December 25, 2007. Pursuant to the agreement, GOGC will manage the works on North-South gas pipeline financed by MCG grant.

Under the II and III phases of rehabilitation of North-South Gas Pipeline it is planned to repair additional 17 damaged sections. Six sections of the pipeline have already been rehabilitated under the I phase of rehabilitation and those works have also been managed by GOGC.

MCG energy infrastructure budget is 49.5 million USD and it aims at rehabilitating of the damaged sections of North-South Gas Pipeline.

Millennium Challenge Georgia Fund executes the Energy Infrastructure Rehabilitation Project. The project costs 49,5 million USD and painted for 3 years. The project implementation began in 2006 and ends in 2008.

North-South Main Gas Pipeline Rehabilitation is one direction of the project cost of 44, 5 million USD. From this volume, 25 million USD will be spend for fulfilling II and III phase of rehabilitation of North-South Gas Pipeline.