Georgia takes key step to establish gas exchange

19 October, 2021
This week, the first working meeting took place within the framework of the Memorandum of Understanding (MoU) signed in July 2021 between the representatives of the Energy Community Secretariat, EBRD, Ministry of Economy and Sustainable Development of Georgia, JSC Georgian Oil and Gas Corporation (GOGC) and Georgian Gas Transportation Company LLC (GGTC) regarding cooperation on the liberalization and digitalization of commodities markets.

The parties discussed the current state of play in the gas sector including the legal establishment of the Ltd Georgian Gas Exchange (GGEX), as a subsidiary of GOGC and GGTC. Its incorporation on 15 October constitutes a landmark development in the creation of a competitive gas market in Georgia. The parties also put forward an initial draft action plan to further address and streamline the process towards operationalizing the gas exchange.

Back-to-back with this meeting, representatives of the Energy Community Secretariat held bilateral working meetings with gas stakeholders to discuss a number of pressing issues, including draft gas market rules, concerns regarding the tariff system and the public service obligation (PSO) scheme as well as market developments.