Deputy Economy Minister about talks with Gazprom: Our commercial conditions have been improved

As a result of the negotiations with Gazprom, our commercial conditions have been improved: the transit fee has been increased and the Russian gas price has been reduced, - Deputy Minister of Economy and Sustainable Development Natia Turnava said after the cabinet meeting on Tuesday.

According to her, the negotiating team from Georgia made good use of the world's oil price dynamics. The Deputy Economy Minister said that because of this, the Russian side expressed readiness to make compromises and Georgia has achieved improvement in the commercial interests of the country.

Natia Surmava said the new deal with Gazprom will be valid during 2019-2020.

“The Ministry of Economy has completed its negotiations with Gazprom onthe transit of the Russian gas to Armenia. Despite of long and difficult negotiations, we were guided by two basic principles, and both principles are well kept. First of all, it is our country's energy independence and security. I can tell you that two most important strategic segments of our market - population and electricity generation - are fully supplied and will still be supplied with Azeri gas. Azerbaijan remains our main supplier and strategic partner in the field of gas. Moreover, the share of Azeri gas will further increase in the Georgian market in the coming years, after the Shah Deniz Stage 2 is fully launched.

The second task was improvement of our positions with Gazprom. We have improved both positions: the transit fee has been increased and the Russian gas price has been reduced, in case any private business is interested in this alternative. The contract has been extended for 2 years and it will be valid during 2019-2020, "Natia Turnava said.