Georgia eyes Iraqi electricity market
21 October, 2010
Georgia eyes Iraqi electricity market

Georgia is supposed to export electricity in Iraq and Syria after the upcoming 500 kilowatt Black Sea transmission line connecting Georgia with Turkey is constructed.
During his last visit to Washington on October 7, 2010, Nika Gilauri, Prime Minister of Georgia accentuated that Georgia aims to export electricity to Iraq.


“Georgia represents the energy corridor through which gas, electricity and oil is exported. In this regard additional projects and developments will become important not for only Georgia and entire region

but for the European energy security. We had considerations with the deputy of the US Secretary of Department of Energy; we discussed possible transit of electricity to Iraq through Turkey, which will be interesting subject for Turkey as well as for Iraq, for the USA and Georgia. Georgia may become an energy center in whole region,” Gilauri stated during his business visit in US. 
According to Ministry of Fuel and Energy of Georgia, Gilauri had negotiations with the management of the USA’s Export-Import Bank and parties agreed to sign the memorandum, which should promote attraction of the USA’s private investments in Georgian energy sector.


“Memorandum will be signed between the Government of Georgia and the “Exim Bank” financial cooperation. The “Exim Bank” will enter Georgia for the first time and will finance energy projects; among them will be the Construction of Gas liquefied facility on the Black Sea [supposed to transport Azeri gas to EU market via Romania],” Alexander Khetaguri, Minister of Fuel and Energy of Georgia, said.
According to Marika Valishvili, Deputy Minister of Fuel and Energy of Georgia, Iraq is a very interesting market to Georgia and very likely Georgian side will soon undertake negotiations with Turkey to this end.  Iraq has gas and oil but is electricity-deficient while it has clean environment-ambitions and tries to be focused on the environment-friendly electricity supply. Therefore its demand for electricity is huge and price high that makes Iraqi market attractive to Georgia from commercial point of view. Georgia also thinks to export electricity to Syria after Iraqi market becomes available. At any rate it needs Turkey as a transit country to reach these two markets.
“Turkey is exporting electricity to Iraq at the moment, it has due infrastructure and we cannot implement any export without its consent,” Valishvili told Georgian Journal. “We have to negotiate Turkey to find out whether or not it has spare capacities [of its transmission line infrastructure] and allows our electricity export [to Iraq] to transit through Turkey.”


Turkey is now streamlining its electricity sector regulations in line with European ones and Georgian side plans to start commercial negotiations in near future as soon as Turkey gets through with the legislation regulation works. Georgia exports electricity to four countries at the moment [during summertime] to Turkey, Azerbaijan, Armenia, and Russia. Georgian electricity export accounted for 749 million kilowatt/hour past year. Valishvili cannot say at the moment how much electricity can be exported to Iraq exactly but she believes the existed transmission line infrastructure connecting Georgia with Turkey cannot export the demanded capacity and it may be available only after the Black Sea Energy Transmission Project [aimed at construction of a new 500 kilowatt high voltage transmission line connecting Georgia with Turkey] will be through. Construction works of the project are already under way and the entire project is scheduled to be through by 2012-2013. The new line is supposed to 10-fold increase electricity export potential of Georgia.


The project includes description of the key 500 kwt transmission lines system with two new 500 kwt lines augmentation. One of the two new high voltage lines connects Gardabani [east Georgia] and Zestaponi [west Georgia] to a new 500 kwt capacity substation located at Georgian-Turkish border in Akhaltsikhe [south-east frontier region of Georgia].
The project is estimated under EUR 265 million and will be co-financed by European Investment Bank, European Bank for Reconstruction and Development, KFW, and the European Neighborhood Fund via preferential credit disbursed to Georgian State Electrosystem LLC [the state-owned Georgian transmission line infrastructure].

Print
Other Stories
Georgian wine tasting in the US came off excellently
Georgian wine tasting in the main cities of the US, New York, Chicago, and Boston went off excellently.
The most wanted fruits from Georgia
The fruit exportation has decreased in Georgia. According to Geostat (National Statistics Office of Georgia), this year, up until May Georgia exported 25 939 300 USD worth of fruit – 6 771 300 USD less than in 2018.
Investment Plan for Europe – Additional EUR 800 million for SMEs as EIF and ProCredit double support for innovative companies
The European Investment Fund (EIF) and ProCredit Group are providing an additional EUR 800 million to innovative small and medium-sized companies (SMEs),
Everything of comfortable life in one space – Second part of construction of one of the largest apartment complexes finished in Tbilisi
Apartment in ecologically clean environment, thousands of square meters of green yard, swimming pools, places for various sports activities, treks for walking and running, commercial spaces – all these available in one space is not a fantasy.
Batumi awarded Europe's Leading Emerging Tourism Destination 2019
World Travel Awards Europe Gala Ceremony 2019 took place on the 8th of June in Madeira, Portugal.
Coca Cola to open new factory in Georgia, will hire female drivers
Coca Cola is opening new factory in Georgia in December.
World's best party supply company now on the Georgian market
The largest party supply store in Georgia - MyDay is launching as the official distributor of AMSCAN from 2019.
Live as a marketing tool and an unprecedented live stream launched by Livetag
Sharing information has become smoother and more versatile in today’s technological world. Recently, live streaming, an online streaming media has become especially popular.
Theme and program of Caspian Energy Forum Tbilisi – 2019 changed
“The 8th International Caspian Energy Forum Tbilisi – 2019, scheduled for June 21, will focus on the development of the Azerbaijan-Georgia relations in the field of economy and energy”,
Misunderstanding over Poti deep sea ports
There was misunderstanding around deep sea ports in Georgia – in Poti.
High demand for dollars or the investment decline – Why Georgian Lari depreciates
$1 equals GEL 2,7470 in the official rate set by the National Bank of Georgia (NBG).
PSP Group confirms negotiations regarding purchasing of GEO Hospitals
PSP Group confirms negotiations regarding purchasing of GEO Hospitals.
New life to be given to Dashbashi Canyon
Georgia’s Agency of Protected Areas is planning to give new life to Dashbashi Canyon in Tsalka (southeastern Georgia).
Who is constructing “Khadori 3” Hydropower Plant in Pankisi Gorge?
Clashes broke out in Pankisi Gorge, Georgia’s northeastern region between special forces and residents
Business Positive – Successful radio program from Radio Positive
Starting point of radio program Business Positive is to meet interesting people, communicate with them and deliver information that is interesting for the audience.
A factory of electric vehicles to be built in Kutaisi
Prime Minister Mamuka Bakhtadze stated that a factory of electric vehicles will be built in Kutaisi at the presentation of the Aigroup business group.
Qvevri-shaped hotel complex to be built in Telavi
A Qvevri-shaped hotel complex is scheduled to be built in the village of Shalauri in Telavi, Kakheti (east part of Georgia).
Georgian designers presented at Fashion World Tokyo 2019
The products of 11 Georgian designers are showcased at Fashion World Tokyo 2019,
Silknet raises $200 million in Eurobond issue
27 March 2019 - JSC Silknet (“Silknet”), one of Georgia’s leading telecommunications operators, has successfully priced a debut $200 million 5-year 11% senior unsecured bonds issue (the “Notes”).
Pistachio trees will be planted in Georgia
Dozens of hectares of Pistachio are planned to be planted in Georgia this year.
Toyota Safety Sense and Hybrid Technology
Toyota Caucasus, has presented two new models the 5th generation RAV4 and the 12th generation Corolla at Rustavi International Motorpark, several days ago.
Bidzina Ivanishvili “became number one oppressor of businesses in Georgia” - ICC Georgia chairman Fady Asly
Mr. Ivanishvili promised the business community to protect them from harassment and pressure, unfortunately his words died with the sunset of that day
The best brands of Belarus will be exhibited on a large-scale exposition in Tbilisi
"The Belarusians like to come to Georgia to relax near the sea in Batumi as well as to stay in sunny Kakhetia."
Don’t treat business like a hooker! - Georgian businessman Vasil Soprpmadze addresses politicians
Businessman Vasil Sopromadze, founder of the company "Fresco", addresses politicians
RAV4 No Compromise and Corolla Set to Impress – Two New Cars Presented by Toyota
Toyota Caucasus, the company constantly aspiring to greatness, has presented two new models the 5th generation RAV4 and the 12th generation Corolla.
PHOTO OF THE DAY
GEL Exchange Rate
Convertor
23.07.2019
24.07.2019
USD
1
USD
2.8831
2.8971
EUR
1
EUR
3.2357
3.2390
GBP
1
GBP
3.5955
3.6066
RUB
100
RUB
4.5779
4.5838
Other Stories
Recently Toyota rolled out Global Campaign under this slogan that reflects the Olympic and Paralympic Spirit of Encouragement,
A couple from Switzerland combines Swiss tradition and technology with Georgian products. Their cheese is made in the Georgian mountains and sold in local stores and hotels.
It has been more than five years since the residents of Lilo village, near Tbilisi, cannot open their windows.
63 000 GEL was received by the Georgian Agro Export Group which is just a small part of the European Neighbourhood Programme for Agricultural and Rural development.
Georgian entrepreneur Guka Tavberidze, who runs his own business in the UK and does it quite well, has been invited by BBC
The grand opening of 7-star The Biltmore Hotel Tbilisi took place in Georgia’s capital on July 31.
DUSHETI, Georgia – The Georgian government and the World Bank will allocate USD 5.6 million (12 million GEL) to fund
A new Georgian clothing brand named Person has emerged in Georgian market.
Georgia is in the midst of an economic maelstrom, Euronews reports.
Situation at Georgia’s mineral water market is interesting: over the last year, the volume of export has grown by 56 percent. According to “GeoStat”, over $114 million worth of mineral water was sold
GEL Exchange
USD
1
USD
2.8971
EUR
1
EUR
3.2390
GBP
1
GBP
3.6066
RUB
100
RUB
4.5838
July 2019
Mon Tue Wed Thu Fri Sat Sun
1 2 3 4 5 6 7
8 9 10 11 12 13 14
15 16 17 18 19 20 21
22 23 24 25 26 27 28
29 30 31