Davos 2016: BP invests $150m to upgrade Baku-Supsa pipeline in Georgia
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Oil and gas company British Petroleum (BP) will invest $150 million USD in Georgia to modernise certain sections of the Baku-Supsa pipeline and improve ecological standards.
This decision was made in Davos, Switzerland where Georgia’s Prime Minister Giorgi Kvirikashvili met BP chief executive Robert Dudley yesterday.
This was the Georgian PM’s first official meeting within the World Economy Forum, which is taking place in Davos.
Kvirikashvili and a small Georgian delegation departed for Davos yesterday to participate in the 46th session of the international forum.
At the meeting Dudley provided detailed information about the Baku-Supsa pipeline project, which was implemented by BP in Georgia.
The BP chief executive promised the Baku-Supsa pipeline project would be implemented according to schedule despite the current changes in oil prices in the world market.
Dudley said the Baku-Supsa pipeline upgrading works would be completed in 2018. About 2,000 people were employed in the upgrade project.
The Baku–Supsa Pipeline is an 833 km long oil pipeline which runs from the Sangachal Terminal near Baku, Azerbaijan to the Supsa terminal in Georgia.
It has been in operation since January 1999 and the first tanker was loaded in April 1999. The total cost of the construction of the pipeline and terminal was $556 million USD.
Georgia’s Prime Minister Giorgi Kvirikashvili and a small Georgian delegation are set to travel to Davos, Switzerland today in order to participate in world economic forum and attend the 46th session.
Russia has advanced its creeping occupation into Georgian territory, resulting in a portion of the BP-operated Baku–Supsa Pipeline now under Russian control in the breakaway Tskinvali region (South Ossetia).
Indian holding Tata Sons plans to expand its investments in Georgia. Company officials expressed interest in investing in Georgia’s hospitality industry.
A working group from the US investment agency Washington State Investment Board (WSIB) is planning to visit Georgia to explore the investment opportunities in the country.
Prime Minister of Georgia Giorgi Kvirikashvili is rubbing shoulders with world leaders at the World Economic Forum in Davos, Switzerland.
Georgia "effectively” implements the European Investment Bank’s (EIB) operations, said the bank’s president Werner Hoyer while meeting Georgia’s Prime Minister Giorgi Kvirikashvili.
Prime Minister of Georgia Giorgi Kvirikahsvili and the country’s Minister of Foreign Affairs Mikheil Janelidze attended a business lunch in Davos today related to the challenges currently facing the European Union (EU).
Georgia’s Prime Minister Giorgi Kvirikashvili has met president of the European Bank for Reconstruction and Development (EBRD) Sir Suma Chakrabarti in Davos, Switzerland within the World Economic Forum.
Stoltenberg: “It was an excellent meeting with Georgia’s PM"
Georgia’s Prime Minister Giorgi Kvirikashvili and NATO Secretary General Jens Stoltenberg have enjoyed a face-to-face meeting and discussed Georgia’s integration process into NATO in Davos, Switzerland.
Minister of Foreign Affairs of Georgia Mikheil Janelidze met his Austrian, Italian and Mongolian counterparts in Davos, Switzerland yesterday in the framework of the international conference, which is being attended by more than 2,000 political, business, cultural and civil society leaders.
An Emirati holding company based in Dubai plans to expand its investments in Georgia.
Georgia’s Minister of Foreign Affairs Mikheil Janelidze has today sat down with his Argentinian counterpart Susana Malcorra within the framework of the World Economic Forum in Davos, Switzerland.
Intensifying bilateral relations in the political and economic spheres were major topics of the meeting.
Global financial institutions will help Georgia fulfill its ambitious reform agenda. Georgia’s Prime Minister was promised the international support at Davos, Switzerland, where world leaders participated in the World Economic Forum.
Georgia marks 20th anniversary of Baku-Tbilisi-Supsa project
Georgia is celebrating the 20th anniversary of the Baku-Supsa project with Azerbaijan – the "project of the century” that transfers oil from Azerbaijan through Georgia to Turkey and on to Europe.