The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
What denzal posted last night is on pages 16 - 17
It looks a recent report…
https://iea.blob.core.windows.net/assets/3effac34-6632-47ce-a7c7-a16197a2c106/CountryPages_Georgia_FINAL.pdf
Also on page 23
Ninotsminda Oil Company, a subsidiary of Blake Oil and Gas, extracts associated gas in the Ninotsminda oilfield, and Jindal Petroleum Georgia, an Indian company, extracts associated gas along with oil on the XI B licence block. The Romanian company Marexin is carrying out gas hydrate extraction on the Black Sea shelf, and American-owned Frontera Resources produces minor amounts of gas and has announced the discovery of huge gas reserves, although no progress or confirmation has yet followed.
Frontera on the list but could be lazy journalism.
30 April 2022 12:05
WHAT IS THE COST OF NATURAL GAS EXTRACTED IN GEORGIA?
AUTHOR: NINO TABATADZE
1000 cubic meters of natural gas extracted in Georgia, including VAT, costs at least 272 dollars. At least at this price 5 million cubic meters is available today. Purchase of gas up to a meter, which is sold at auction by the Oil and Gas Corporation.
The offered gas will be extracted from the existing fields in Georgia. However, supply is only a forecast indicator of extraction, and the supply of natural gas to the buyer will depend on the dynamics of extraction from the field and the actual figures.
According to the necessary conditions, the gas supply will be carried out within one year from the signing of the contract with the winner of the auction or before the delivery of 5 000 000 m3 to the buyer, whichever event occurs earlier.
The auction will take place on May 6 at 4:00 p.m.
How to determine the selling price of gas
Trading among the auction participants starts with a starting price of GEL 703.73 per 1000 m3 of natural gas, excluding VAT. The trade starts with the "starting price" and continues on the principle of increasing the "starting price" by 6.12 GEL
. If only one person participates in the auction, the amount of the selling price of natural gas will be identical to the initial price.
If there are many participants, the winner will be the auction participant who will offer the corporation a higher price than other participants to purchase 1000 m3 of "natural gas".
The price converted into dollars will be recorded in the contract with the winner of the auction.
It should be noted that the buyer will also have to pay the gas transportation fee to get the gas.
99% of natural gas consumed in Georgia is imported, local gas production in 2021 amounted to 14.9 million cubic meters, which was 81% more than the previous year.
Who is looking for and extracting oil and gas in Georgia?
10 companies have oil and gas exploration and extraction licenses in Georgia.
• OMV PETROM (Black Sea II License Block);
• "Ninotsminda Oil Company" (license block XIE);
• Martkopi Oil Company (license block XIC);
• Block Energy (license block XIF, XIC Norio-Horse, XIC Horse, XIB, IX).
• Frontera Eastern Georgia (License Block XII);
• WGPEC (License Block V);
• GCE Ltd (license blocks VIA, VIB);
• Georgia Oil and Road (License Blocks VIII, XIG, XIM, XIN, XIC Martkopi, XIC North Horse, XIV, IXA, XIK, XIL, XIA; XIH; XIQ);
• ,, Nautical A.V.T. Energy P.T.E. Limited ”(License Block VIIB);
JSC Georgian Oil and Gas Corporation (license block XIB South Arch of Samgori; XIM, XIN; XIQ; XIK)
https://bm.ge/ka/article/ra-girs-saqartveloshi-mopovebuli-bunebrivi-gazi/107848
Date 02/05/2022 11:00
Judge Tamar Lakerbaia
Parties: Givi Bakhtadze, JSC Georgian Oil and Gas Corporation, Frontera Resources Georgia Corporation
Hall 54
https://tcc.court.ge/ka/Sessions
22 April 2022, 11:00
GeoCase researcher Nikoloz Khatiashvili evaluates the visit of the congress delegation to Georgia
Nikoloz Khatiashvili, a researcher in the field of foreign policy at the Analytical Center "GeoCase", evaluates the visit of the congress delegation to Georgia. According to the analyst, in the light of the ongoing war in Ukraine and the current geopolitical challenges, the visit of US lawmakers has a special bearing and clearly shows that Georgia plays an important role in US foreign and security policy.
"The United States will spare no effort to meet the challenges facing Ukraine and Europe as a whole. These challenges come from the Russian Federation, which is not accustomed to the existence of democracies with European values ??and institutions based on these values ??in its neighborhood and is trying to prevent this process by attacking free and sovereign countries. That is why the international support of such countries, including Georgia, is important. The United States considers Georgia as its strategic partner, which has the potential to help Europe reduce its dependence on Russian energy resources and to participate in the development of alternative energy supply routes in Europe, as well as to facilitate the creation of a new transport corridor.
The GeoCase researcher notes that the dynamics of Georgia's cooperation with the US administration has reached a truly unprecedented level in recent years, especially in the field of defense and security. The United States is well aware of the important role it plays in promoting stability and security in the Georgia region, and I am confident that in the near future we will see even more practical and substantial support for Georgia.
https://imedinews.ge/ge/politika/247039/jeoqeisis-mkvlevari-nikoloz-khatiashvili-saqartveloshi-kongresis-delegatsiis-vizits-apasebs
Government Spends ?135 Million on Arbitration Legal Services - TI
01 Apr 2022 | 14.00
In 2017-2021, the purchase of legal services related to international arbitration disputes cost the Georgian budget 135 million GEL.
According to the Transparency International Georgia (TI) report , 96 large contracts were signed during this period, mostly with foreign companies.
According to the study, 85% of the contracts came from three foreign companies. These are: American company White & Case - 81 million GEL, English company Hogan Lovells International - 23 million GEL and American-English company Gaillard Banifatemi Shelbaya - 11.5 million GEL. According to Transparency International, Hogan Lovells International has been a lobbying company of the Georgian Dream party since 2020.
According to the report, JSC Georgian Oil and Gas Corporation paid 20 million GEL to Hogan Lovells International for legal services of the dispute with Frontera .
The dispute with the company Todini over the construction of roads cost the state 18 million 200 thousand GEL . The Ministry of Justice procured legal services from White & Case. The Ministry has transferred GEL 12 million 800 thousand to the same company for the service of the ongoing legal dispute with the company Astald over the construction of roads. The Ministry of Justice paid 8 million 400 thousand GEL to Gaillard Banifatemi Shelbaya due to an arbitration dispute with the American companies that own Magti, Telcell Wireless and International Telcell Cellural.
The arbitration dispute with the state "Anaklia Development Consortium" cost 6 million 900 thousand GEL. Legal services were purchased by the Ministry of Justice from White & Case this time as well.
According to the data of 2017-2021, the Ministry of Justice spent the most money on the purchase of legal services, 82 million 200 thousand GEL. The agency has signed 14 major contracts through direct procurement over the last 5 years. Then comes the Roads Department of the Ministry of Regional Development and Infrastructure of Georgia, which has signed 19 large contracts with a total value of 22 million 500 thousand GEL. JSC "Georgian Oil and Gas Corporation" is on the third position with 4 contracts with a total value of 21 million 300 thousand GEL.
According to Transparency International Georgia, until 2017, the costs of legal services were much lower. According to the research, the total value of 32 large contracts signed in 2011-2016 did not exceed GEL 5 million.
https://businessformula.ge/News/8017
Date:08/04/2022 17:00
Judge:Ketevan Minashvil
Parties:Merab Gvilava, LEPL State Oil and Gas Agency, Frontera Eastern Georgia Ltd
https://tcc.court.ge/ka/Sessions
05.04.2022 13:55:00
Hall ?18
Judge:Merab Lomidze
Bidzina Mindeli, Geronti Tsvariani, Zaza Mamulaishvili, Temuri Miminoshvili
http://www.tbappeal.court.ge/?category=3&mc=3
I’ve not a clue sorry, maybe details will come out in the press one day ?
Date: 25/03/2022 11:45
Judge: Ketevan Minashvili
Parties: Merab Gvilava, LEPL State Oil and Gas Agency, Frontera Eastern Georgia Ltd
Hall : 39
https://tcc.court.ge/ka/Sessions
“There is now no better place for ZM & Co to find out what is going on, quickly and for free,……”
Zaza ! - Don’t forget you’re back in court again on Tuesday so take a packed lunch…
Tbilisi Court of Appeal
22.03.2022 11:00:00
Hall ?13
Judge Merab Lomidze
Bidzina Mindeli, Geronti Tsvariani, Zaza Mamulaishvili, Temuri Miminoshvili
http://www.tbappeal.court.ge/?category=3&mc=3
Chris -
Date:21/03/2022 11:40
Judge:Tamar Lakerbaia
Parties:Givi Bakhtadze, JSC Georgian Oil and Gas Corporation, Frontera Resources Georgia Corporation
Hall:54
15.02.2022 11:00:00
judge Merab Lomidze
Hall ?7
Bidzina Mindeli, Geronti Tsvariani, Zaza Mamulaishvili, Temuri Miminoshvili
http://www.tbappeal.court.ge/?category=3&mc=3
Date:11/02/2022 10:30
Judge:Ketevan Minashvili
Parties:Merab Gvilava, LEPL State Oil and Gas Agency, Frontera Eastern Georgia Ltd
Hall:39
Date:14/02/2022 11:00
Judge:Tamar Lakerbaia
Parties:Givi Bakhtadze, JSC Georgian Oil and Gas Corporation, Frontera Resources Georgia Corporation
Hall:54
Date:11/02/2022 13:00
Judge:Archil Kochlamazashvili
Parties:Giorgi Kishmaria, Elene Kishmaria, Zaza Mamulaishvili, JSC "Georgian Oil and Gas Corporation"
Hall:48
https://tcc.court.ge/en/Sessions
Sorry, ignore last post as it looks like it’s not ZM. (Georgian text slightly different spelling )
18.01.2022 11:00:00
Hall ? Vano Tsiklauri Giorgi Okribelashvili, Zaza Mamulashvili, Mariam Ghviniashvili, Nino Ramishvili
http://www.tbappeal.court.ge/?category=3&mc=3
17.12.2021 10:00:00
Hall ?20 Gela Kiria Davit Meskhishvili, Elene Kishmaria, Zaza Mamulaishvili, JSC Bank of Georgia
http://www.tbappeal.court.ge/?category=3&mc=3
Tbilisi city court
Date: 22/12/2021 13:00
Judge: Tamar Lakerbaia
Sides: Givi Bakhtadze, JSC Georgian Oil and Gas Corporation, Frontera Resources Georgia Corporation
Room: 54
https://tcc.court.ge/en/Sessions
Just found this -
Date: 01/12/2021 11:00
Judge: Archil Kochlamazashvili
Sides: Giorgi Kishmaria, Elene Kishmaria, Zaza Mamulaishvili, JSC "Georgian Oil and Gas Corporation"
Room: 48
Date: 01/12/2021 11:40
Judge: Tamar Lakerbaia
Sides: Givi Bakhtadze, JSC Georgian Oil and Gas Corporation, Frontera Resources Georgia Corporation
Room: 54
Hi WHamBoy. I can’t find anything from the Georgian courts regarding ZM…
Thanks for explaining and making sense Looed !!
Ongoing…
Date: 22/11/2021 10:00
Judge: Liana Kajashvili
Parties: Davit Meskhishvili, Elene Kishmaria, Zaza Mamulaishvili, JSC Bank of Georgia
Hall: 51
https://tcc.court.ge/ka/Sessions
ODR - That’s all the info given.
I’m using my phone, I select the date box then choose ‘other’ . Then on the calendar select the day, I have to select the day after aswell for it to work for some reason.
Here’s another one -
Date: 19/11/2021 17:00
Judge: Shorena Jankhoteli
Zaza Mamulaishvili, Tamar Giguashvili, Teimuraz Narsia, Merab Gvilava