2016-06-09
In the energy sector, significant investment projects are underway and in this respect there is no reason for skepticism, - Prime Minister Giorgi Kvirikashvili responded to the question of member of "National Movement" Giorgi Kandelaki at the International Energy Conference.
Head of the Government explained that the investments in energy sector require large period and structuring of the projects, such as the project "Nenskra" that costs 1 billion USD will take some time. Pursuant to Giorgi Kvirikashvili, the project is currently underway, but the start of negotiations and certain procedures took more than a year and a half.
The Prime Minister also discussed the "Tata Consortium," which is one of the investors in the energy sector, noting that negotiations with the said entity were also time-consuming, since the project, was abandoned in 2012 and the government spared no effort to the ensure that investor would return.
"Every financial institution has its own internal procedures that shall be followed in order to start the investment process. Furthermore, the research period shall also be undergone. This steps have to be taken to ensure the initiation of the projects and investments. Relative drop of the foreign direct investments was also entailed by the fall of the energy prices; regional conflicts - between Ukraine and Russia, at this point we face tensions between Turkey and Russia, which, of course, has a great impact on the region and we are not isolated from these developments, but rather we are part of this greater picture. However, I must say that the important projects are still being implemented ", - Prime Minister said and added that the most important project is also being implemented by British petroleum without any delay.
The Prime Minister also responded to the questions of Giorgi Kandelaki concerning "Gazprom" and strengthening of Russian propaganda in Georgia.
Head of the Government explained that negotiations on technical conditions were conducted with "Gazprom" to fill the 40% increase in energy demand, however, the talks were finalized after "SOCAR" agreed to supply additional volumes of gas through pipeline owned by British Petroleum.
According to Giorgi Kvirikashvili, this was an important agreement since this way gas supply was offered under more favorable conditions.
"Currently, share of Russia in the energy supply is lower than 10%, and we can freely say that we are not heavily dependent on Russia, as it was in the past. Hence, to sum it all, unfortunately, I have to use this term - political speculation was heavily used in case of "Gazprom". We will continue our strategic partnership with Azerbaijan ", - the Prime Minister indicated.
Head of Government noted that Russian propaganda still remains to be a significant challenge, especially in Georgia. However, 80% of the population is supporting European values and Euro-Atlantic aspirations, which is a much higher figure than in any other Eastern European country in NATO's neighborhood and in those countries that have taken relevant steps forward in the process of joining the alliance.
"Therefore, this skepticism concerning the possible dependence on Russian energy resources is absolutely unfounded. I will not go into a discussion on Russian investments in the energy sector, since this process mainly occurred during the previous administration - before the "Georgian Dream" came to power. Let's not discuss it, "- Prime Minister indicated.
Prime Minister's Press Office