Important News - Georgia and Azerbaijan Sign Agreement on 20-Year Natural Gas Supply22 May 2026 10:31
19th May 2026
1. The existing contract expires 2026 — Georgia is currently 99.7% dependent on imported gas. That dependency continues for 20 more years under this new deal. Block's Project III domestic gas production directly addresses this — every BCF Block produces domestically displaces expensive Azerbaijani imports.
2. Georgian Prime Minister personally travelled to Baku alongside the Economy Minister and GOGC chief — this is a head of state level energy deal. The same government confirmed Aspect Georgia as a Block investor days later. The political will to develop Georgian domestic energy is at the very top of government.
3. South Caucasus Pipeline specifically named — this is the pipeline Block's Project III gas would flow through for EU export. It's just been reaffirmed for 20 years at the highest level of Georgian-Azerbaijani diplomacy.
The Georgian government just told you everything you need to know about why Block's gas assets matter.