Energo Trade Predicts Georgia's Boosted Market Rivalry Via New Oil Refinery's Construction

(MENAFN- Trend News Agency) BAKU, Azerbaijan, April 25.​ Georgia strengthens its position in the regional energy market with the construction of a new oil refinery, General Partner of Energo Trade for Central Asia and the Caucasus Parviz Mammadov said during the Caspian and Central Asian Oil Trade and Logistics Forum, Trend reports.

Mammadov noted that Georgia's advantageous geographic location and access to Black Sea ports significantly enhance the country's competitiveness and energy self-sufficiency. According to him, Georgia's market is less vulnerable to currency fluctuations, as oil product imports are conducted in US dollars; however, the exchange rate of the national currency still affects domestic fuel prices.

Mammadov underscored that the enhancement of Georgia's logistical and refining infrastructure will be pivotal in fortifying its energy autonomy.

He also indicated that infrastructural development is presently in progress in the Supsa region, adjacent to the Kulevi terminal, for the nation's inaugural significant contemporary oil refining facility, boasting an initial throughput capacity of 1.1 million tons annually, with prospects for subsequent scalability.

In his assessment, the operationalization of this refinery could serve as a pivotal inflection point for the fuel market dynamics in Georgia.

“The launch is expected by the end of this year, despite earlier statements by the owners suggesting an earlier start. It is at that point that we will begin to see significant changes in the structure of supply and pricing of petroleum products within the country,” he pointed out.

Georgia consumes approximately 650,000–670,000 tons of gasoline, 620,000–650,000 tons of diesel fuel, and up to 150,000 tons of aviation kerosene annually. With the new refinery coming online, these figures are expected to shift significantly toward increased domestic refining.

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