Oil and Gas Corporation in Cooperation with Chinese Partners to Study Prospects of Natural Gas-based Petrochemistry Development in Georgia

Oil and Gas Corporation in Cooperation with Chinese Partners to Study Prospects of Natural Gas-based Petrochemistry Development in Georgia

Oil and Gas Corporation in Cooperation with Chinese Partners to Study Prospects of Natural Gas-based Petrochemistry Development in Georgia

The FINANCIAl -- The Memorandum of Understanding signed between the Oil and Gas Corporation of Georgia and the China Tianchen Engineering Corporation envisages the conduction of the study to reveal the prospects of the natural gas-based Petrochemistry development in Georgia.

''When the study is accomplished, we will receive the positive outcomes that would allow our country to develop new sectors of economy, which is very important for us,” – the First Vice Prime Minister of Georgia, Minister of Economy and Sustainable Development of Dimitry Kumsishvili evaluated the Memorandum of Understanding signed on May 30 by the plenipotentiary representative of the Georgian Oil and Gas Corporation, the company’s Director General Davit Tvalabeishvili and Chairman of the Supervisory Board of CHINA TIANCHEN ENGINEERING CORPORATION, Hegen Dai.

On the basis of the Memorandum, the Parties will continue to study the possibilities of cooperation in the field of industrial chemicals and mineral fertilizers in Georgia regarding the construction of a chemical enterprise in Georgia. The Chinese Corporation expressed its readiness to review and support similar projects prepared by the Oil and Gas Corporation of Georgia, according to Ministry of Economy and Sustainable Development of Georgia.