The Oil and Gas Corporation of Georgia has put 5 million cubic meters of natural gas produced in the country up for auction. The starting price of the lot is set at 648.38 GEL per 1000 cubic meters, which is equivalent to approximately $240 at the rate of $1/₾2.6995. The bidding increment is 5 GEL and 40 tetri, and the final cost will be formed with this increment.
According to the terms of the auction, only users of the Georgian gas transportation system who have the technical ability to deliver the purchased volume from the point of supply to the place of consumption will be able to purchase gas. In addition, all costs associated with the transportation of gas are borne by the winner of the auction.
The auction will last until 15:00 on December 19. Following its results, the final price of gas and the company that will receive the right to purchase the entire volume offered will be known.