Presentation of Supsa Energy Project

4 Feb '10

On February 4, the "Supsa Oil Processing and Petrochemical Complex Development Project" was presented with participation of the BAG and AmCham.

The presentation was attended by the First Vice-President of BAG Giorgi Isakadze, representative of Amcham, Michael  Cowgill, Author of the project Giorgi Chanturia and other interested persons.

According to Giorgi Chanturia's report, the project has several important components and includes construction of oil processing, petrochemical, liquid gas and natural gas factories, marine terminal for exporting and installation of two high-tech thermoelectric power stations using local raw material.

In the course of discussing about the project's perspective, acquisition of new oil deposits and launching of construction of oil pipeline by Kazakhstan was stressed, as well as the resources offered by already existing Baku-Tbilisi-Supsa, Baku-Tbilisi-Ceyhan and Baku-Tbilisi-Erzurum projects. The prospect of implementation of NABUKO project was also mentioned.

According to the speaker, the Supsa Energy Project plays important role both for the establishment of energy safety system of Black Sea countries and for the enhancement of European energy safety system.