Georgian Oil and Gas Corp

What Georgian Oil and Gas Corp does

JSC Georgian Oil and Gas Corporation (GOGC) is the state-owned National Oil Company of Georgia, wholly owned by the Government of Georgia and headquartered at 21 Kakheti Highway, Tbilisi. Founded in 2007, GOGC holds exclusive ownership and operational rights over Georgia's trunk oil and gas pipeline systems and is charged with protecting state interests in Production Sharing Agreements with international investors. The company's vertically integrated energy portfolio spans four revenue streams: natural gas transmission via the East-West Main Gas Pipeline and its branches (Kobuleti, Kakheti, South Georgia), the 221 km North-South Main Gas Pipeline, and the 249 km Georgian section of the South Caucasus Pipeline; oil pipeline participation through the Baku-Tbilisi-Ceyhan (BTC) and the 375 km Georgian section of the Western Route Export Pipeline (Baku-Supsa); 460 MW of combined cycle thermal power generation at the twin Gardabani TPP 1 (commissioned 2015, 230 MW) and TPP 2 (licensed March 2020, 230 MW) facilities, both equipped with General Electric turbines and supplying Georgia's national grid under GNERC tariffs; and underground gas storage development in Gardabani municipality. The company also conducts periodic crude oil auctions on the National Agency of State Property electronic platform.

GOGC operates as the state-directed infrastructure provider for Georgia's energy corridor, deriving revenue from regulated transmission tariffs, transit fees from international consortia (where Georgia earns approximately USD 50 million in direct BTC transit fees annually into the state budget,), state-set power generation tariffs, and oil sales. Beyond Georgia's borders, GOGC holds strategic minority stakes in regional pipeline projects including 16.9% in Sarmatia LLC (Eurasian Oil Transportation Corridor alongside SOCAR, Klaipedos Nafta, PERN, and Ukrtransnafta), 10% in White Stream Ltd and W-Stream Caspian Pipeline Company Ltd (Trans-Caspian pipeline promoters), and is a founding partner of SC AGRI LNG Project Company S.R.L. (Azerbaijan-Georgia-Romania LNG interconnector alongside SOCAR, Romgaz, and MVM).

GOGC's capital structure has been strengthened through a 2016 USD 250 million London-listed Eurobond, subsequently refinanced in April 2021 via a EUR 217 million 10-year EBRD loan. The company carries a BB international investment rating (S&P upgraded to BB-/Stable in October 2019). Operationally, GOGC runs a project portfolio of 408 ongoing, 142 future, and 143 completed projects spanning pipeline construction, rehabilitation, power generation, and international transit infrastructure. Wholly-owned subsidiaries include Gardabani TPP 2 LLC, Georgian Gas Transportation Company LLC (GGTC), Georgian Gas Storage Company LLC, and Georgian Gas Exchange LLC (GGEX). GOGC is a regulated, non-listed state enterprise with no consumer-facing channels; its customer base comprises the Government of Georgia, Georgia's national electricity grid, major industrial users (Rustavi Metallurgical Plant, Rustavi Azot, HeidelbergCement), 130,000 Rustavi residential consumers, and international energy companies operating in transit consortia (BP, SOCAR, Chevron, Total, ENI, Statoil, INPEX, TPAO).

Name

Georgian Oil and Gas Corp

Legal name

JSC Georgian Oil and Gas Corporation

Website

https://gogc.ge

Company type

Private

Founded year

2007

Operating status

Operating

Short description

Georgian Oil and Gas Corporation (GOGC) is the state-owned National Oil Company of Georgia, operating the country's trunk gas and oil pipeline systems, 460 MW of combined cycle thermal generation, underground gas storage, and minority stakes in regional Caspian-to-Europe transit consortia, serving the Georgian government, industrial users, and international energy operators.

Ownership category

akta.pro rank

Product category

Oil and Gas Transmission Infrastructure

NAICS

Pipeline Transportation of Crude Oil (4861), Natural Gas Extraction (21113), Crude Petroleum Extraction (21112)

SIC

Natural Gas Transmisison & Distribution (4923), Natural Gas Transmission (4922), Crude Petroleum & Natural Gas (1311)

akta.pro industry

PRIMARYEUALALAB

Captive & Embedded Gas-Fired Power Generation (Industrial/Commercial CHP)

Energy, Utilities & Environment/Oil & Gas (Upstream, Midstream, Downstream and Refining)/Gas-to-Power & Industrial Gas Supply (CNG/LNG for Industry, Captive Power)

SECONDARYEUALALAC

Gas-to-Power Project Development (IPP/CPP, Permitting, Financing)

Energy, Utilities & Environment/Oil & Gas (Upstream, Midstream, Downstream and Refining)/Gas-to-Power & Industrial Gas Supply (CNG/LNG for Industry, Captive Power)

SECONDARYEUALALAD

Gas Supply, Aggregation & Contracting (Producers, Marketers, Tolling, GSA)

Energy, Utilities & Environment/Oil & Gas (Upstream, Midstream, Downstream and Refining)/Gas-to-Power & Industrial Gas Supply (CNG/LNG for Industry, Captive Power)

SECONDARYEUALACAI

Field Treating & Separation (Heater Treaters, Separators, LACT)

Energy, Utilities & Environment/Oil & Gas (Upstream, Midstream, Downstream and Refining)/Midstream Gathering & Processing (G&P)

Keywords

• Natural gas transmission
• Oil pipeline operations
• Power generation services
• Underground gas storage
• State-owned energy infrastructure

Headquarters

HQ city

Tbilisi

HQ country

Georgia

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Operations, Personnel, Technology or R&D, Supply Chain, Marketing or Sales

Revenue model

1. Natural Gas Transmission: GOGC operates, maintains, and develops Georgia's national high-pressure gas transmission pipeline network, transporting natural gas from Azerbaijan (Shah Deniz/SCP) and supporting domestic supply and transit to Turkey and Europe. Revenue is generated through transmission tariffs and state-negotiated transit fees.
2. Oil Pipeline Transportation: GOGC is party to international oil pipeline consortia (WREP/Baku-Supsa, BTC) operating across Georgian territory. The company earns transit fees and protects state interests in production-sharing agreements with investors such as BP, Chevron, and SOCAR.
3. Power Generation (Gardabani TPP 1 & 2): GOGC owns and operates the 230 MW Gardabani Combined Cycle Power Plant (commissioned 2015) and Gardabani TPP 2 (commissioned 2020), generating electricity for sale into Georgia's grid. Construction funded entirely from GOGC's internal resources.
4. Crude Oil Sales: GOGC conducts periodic auctions for the sale of crude oil extracted from Georgian fields, selling to third-party buyers under EXW and FCA terms. Auctions are announced publicly through the National Agency of State Property electronic platform.
5. Underground Gas Storage Services: GOGC is involved in the development of underground gas storage, providing storage capacity services to support Georgia's energy security and seasonal gas demand management.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels6 records

Core offering

JSC Georgian Oil and Gas Corporation is the National Oil Company of Georgia and the operator, owner, and developer of the country's trunk oil and gas pipeline systems. It transmits natural gas through the East-West, North-South, and South Caucasus pipelines, transports Caspian crude via the BTC and Baku-Supsa pipelines, generates 460 MW of electricity through two Gardabani combined cycle thermal plants, and develops underground gas storage for seasonal demand balancing. The company also periodically auctions crude oil extracted from Georgian fields.

Product overview

JSC Georgian Oil and Gas Corporation (GOGC) is a state-owned diversified energy company with the status of National Oil Company. Its infrastructure portfolio centers on natural gas transmission via the East-West Main Gas Pipeline system (with branches to Kobuleti, Kakheti, and southern regions), the South Caucasus Pipeline, and the North-South Main Gas Pipeline spanning 221 km from the Russian to Armenian border. For oil, GOGC operates and has stakes in the Baku-Tbilisi-Ceyhan pipeline, Baku-Supsa Western Route Export Pipeline, and the South Caucasus Pipeline. Power generation includes two 230 MW combined cycle thermal plants at Gardabani (TPP 1 operational since 2015, TPP 2 since 2020), plus an Oil Primary Treatment Facility and underground gas storage development. GOGC implements extensive pipeline construction and rehabilitation projects across Georgia, with operations spanning from exploration support through transmission infrastructure.

Differentiator

Problem solved

Functional benefit

Products and services

• Western Route Export Pipeline (WREP / Baku-Supsa Pipeline) Crude oil transportation service from the Caspian Sea through Georgian territory to the Supsa Black Sea terminal, provided to international consortium partners (BP, Chevron, SOCAR, INPEX, Statoil, ExxonMobil, TPAO, Itochu, Amerada Hess).
• Baku-Tbilisi-Ceyhan (BTC) Oil Pipeline Long-distance crude oil transit service from the Caspian Sea to the Mediterranean, provided to the BTC consortium (BP, AzBTC, Chevron, Statoil, TPAO, ENI, Total, Itochu, INPEX, ConocoPhillips, Amerada Hess). Generates approximately $50 million in direct transit fees for the Georgian state budget.
• South Caucasus Pipeline (SCP) Natural gas transmission service from Azerbaijan through Georgian territory to Turkey and Europe, operated by the SCP consortium (BP technical operator, Statoil commercial operator, SOCAR, LukOil, NICO, Total, TPAO).
• North-South Main Gas Pipeline Natural gas transmission from the Georgian-Russian border to the Georgian-Armenian border, supplying domestic Georgian consumers and enabling exports to Armenia.
• South Georgia Main Gas Pipeline Natural gas transmission to the Samtskhe-Javakheti region of southern Georgia through rehabilitated pipeline with new construction sections.
• East-West Main Gas Pipeline System Primary domestic high-pressure gas transmission network spanning Georgia with branches to Kobuleti (Adjara region), Kakheti, Tsiteli-Khidi, and other regions, supplying gas to distribution stations and industrial consumers.
• Gardabani Thermal Power Plant 1 230 MW combined cycle thermal power generation for sale to Georgia's national electricity grid under GNERC-regulated tariffs, providing baseload generation capacity.
• Gardabani Thermal Power Plant 2 230 MW combined cycle power generation supplied to Georgia's national electricity grid under a GNERC license, contributing to the country's 460 MW total GOGC generation capacity.
• Oil Primary Treatment Facility Facility for storing, treating, and preparing crude oil from adjacent oil fields for sale, including a Vaziani dead-end track for loading oil into rail tank cars.
• Underground Gas Storage Service Underground gas storage project in Gardabani municipality (Samgori South Dome) providing storage capacity for seasonal demand balancing and Georgia's energy security.
• Rustavi Gas Distribution Station Local gas distribution station serving 130,000 residents and large industrial consumers in Rustavi (Rustavi Metallurgical Plant, Rustavi Azot, HeidelbergCement), handling 65,000 cubic meters of gas daily.

Quantifiable outcome

• Georgia receives 5% of gas transported from Azerbaijan to Turkey at favorable prices, plus 0.5 bcm/year at special price for 20 years under SCP agreement
• +3 more outcomes

Named customers7 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

17 partnerships are on record, tiered core and minor.

• BP (British Petroleum)coreStrategic or Co-development PartnerBP is the largest shareholder and operator of the Western Route Export Pipeline (WREP/Baku-Supsa), which transports Caspian crude oil through Georgia's 375 km section to the Supsa terminal. BP also operates the Baku-Tbilisi-Ceyhan (BTC) oil pipeline and South Caucasus Pipeline (SCP) consortia in which GOGC protects Georgia's state interests. At the 30th anniversary event in June 2026, GOGC General Director Ekaterine Sisauri highlighted BP's vital role in introducing high international standards and supporting major projects (WREP, BTC, SCP) that strengthened Georgia's transit corridor position.
• Sarmatia LLCcoreStrategic or Co-development PartnerSarmatia LLC is an international pipeline company established for the Eurasian Oil Transportation Corridor (EAOTC) project, linking Caspian and Central Asian oil to European markets via Odessa-Brody. GOGC holds a 16.9% equity stake in Sarmatia LLC. Other shareholders include SOCAR (Azerbaijan), AB Klaipedos Nafta (Lithuania), PERN Przyjaźń S.A. (Poland), and Ukrtransnafta (Ukraine). Sarmatia's authorized capital is 20.06 million PLN.
• SC AGRI LNG Project Company S.R.L.coreStrategic or Co-development PartnerSC AGRI LNG Project Company S.R.L. was established in 2011 to implement the Azerbaijan-Georgia-Romania Interconnector (AGRI) project, which envisages LNG transportation from Azerbaijan and the Caspian region through Georgia and the Black Sea to Romania and European markets. GOGC is a founding partner alongside SOCAR (Azerbaijan), Romgaz (Romania), and MVM (Hungary). The company hired Penspen Ltd. for feasibility study, approved by the board in January 2015. AGRI is part of the EU Southern Corridor project.
• BTC Co. (Baku-Tbilisi-Ceyhan Pipeline Consortium)coreStrategic or Co-development PartnerBTC Co. is the international consortium that owns and operates the 1,768 km Baku-Tbilisi-Ceyhan oil pipeline. GOGC protects Georgia's state interests as a party to the Production Sharing Agreement. Georgia earns a direct transit fee of approximately $50 million to its state budget. Pipeline construction cost was about $4 billion. Consortium partners include BP (30.1%), AzBTC (25%), Chevron (8.90%), Statoil (8.71%), TPAO (6.53%), ENI (5%), Total (5%), Itochu (3.4%), INPEX (2.5%), ConocoPhillips (2.5%), Amerada Hess (2.36%).
• South Caucasus Pipeline (SCP) ConsortiumcoreStrategic or Co-development PartnerThe SCP consortium operates the 691 km South Caucasus Pipeline (249 km in Georgia) transporting Shah Deniz natural gas from Azerbaijan through Georgia to Turkey and onward to Europe. Total project cost was $1 billion. Partners include BP (technical operator), Statoil (commercial operator), SOCAR, LukOil, NICO, Total, and TPAO. Under the project agreement, Georgia receives 5% of gas transported from Azerbaijan to Turkey at favorable prices, plus 0.5 bcm/year at a special price for 20 years.
• WREP Consortium (Western Route Export Pipeline / Baku-Supsa)coreStrategic or Co-development PartnerThe WREP (Baku-Supsa) Consortium operates the 833 km oil pipeline (375 km in Georgia) transporting Chirag field crude oil from the Caspian Sea through Georgia to the Supsa terminal. BP is the largest shareholder (34.1%) and operator. Other partners include Chevron (10.3%), SOCAR (10%), INPEX (10%), Statoil (8.6%), ExxonMobil (8%), TPAO (6.8%), Itochu (3.9%), Amerada Hess (2.7%).
• Georgian Technical University (GTU)minorStrategic or Co-development PartnerGOGC and GTU signed a Memorandum of Mutual Cooperation on 29 June 2026 for joint educational and research projects, student professional development, and training of qualified personnel for the oil and gas sector. Signed by GOGC General Director Ekaterine Sisauri and GTU Vice-Rector Tamar Tsereteli. The partnership aims to support GTU's Faculty of Mining and Geology and Sustainable Mountain Development students, expand career opportunities, and prepare young professionals for Georgia's strategic energy sector.
• Çalık EnerjiminorImplementation/ SI/ Consulting PartnerÇalık Enerji is a leading Turkish engineering and construction company that constructed the 230 MW Gardabani Combined Cycle Power Plant (TPP 1) for GOGC. The company was selected as the main contractor for the project, which was completed in 2015 within 1.5 years with an investment of approximately USD 230 million.
• China Tianchen Engineering Corporation (TCC)minorImplementation/ SI/ Consulting PartnerChina Tianchen Engineering Corporation (TCC), one of China's largest engineering corporations established in 1953 in Tianjin, was the contractor for GOGC's Gardabani TPP 2 construction project. The 230 MW combined cycle power plant was completed in December 2019 and became operational in 2020.
• SOCAR (State Oil Company of Azerbaijan Republic)coreStrategic or Co-development PartnerSOCAR is a key partner in multiple GOGC-affiliated projects: co-shareholder in Sarmatia LLC (16.9% stake), founding partner of SC AGRI LNG Project Company, partner in WREP Consortium (10%), and partner in BTC Co. and SCP consortia. SOCAR is also the national oil company of Azerbaijan, making it a central counterpart in Georgia-Azerbaijan energy transit relations.
• Georgian Technical University (GTU)minorStrategic or Co-development PartnerMemorandum of Mutual Cooperation signed June 2026 between GOGC and GTU covering joint educational and research projects, student internships and professional development, and training of qualified oil and gas sector personnel. GOGC General Director Ekaterine Sisauri and GTU Vice-Rector Tamar Tsereteli signed the agreement.
• SOCAR (Azerbaijan)coreStrategic or Co-development PartnerSOCAR is a key partner in multiple GOGC-affiliated projects: co-shareholder in Sarmatia LLC (alongside GOGC's 16.9%), founding partner of SC AGRI LNG Project Company S.R.L., partner in WREP Consortium (10%), and partner in BTC Co. and SCP consortia.
• Romgaz (Romania)coreStrategic or Co-development PartnerRomgaz is a founding partner of the SC AGRI LNG Project Company S.R.L., the joint company implementing the Azerbaijan-Georgia-Romania Interconnector (AGRI) project for LNG transportation through Georgia and the Black Sea to Romania.
• Romgaz (Romania)coreStrategic or Co-development PartnerRomgaz is a founding partner of the SC AGRI LNG Project Company S.R.L., the joint company implementing the Azerbaijan-Georgia-Romania Interconnector (AGRI) project for LNG transportation through Georgia and the Black Sea to Romania.
• Romgaz (Romania)coreStrategic or Co-development PartnerRomgaz is a founding partner of the SC AGRI LNG Project Company S.R.L., the joint company implementing the Azerbaijan-Georgia-Romania Interconnector (AGRI) project for LNG transportation through Georgia and the Black Sea to Romania.
• Romgaz (Romania)coreStrategic or Co-development PartnerRomgaz is a founding partner of the SC AGRI LNG Project Company S.R.L., the joint company implementing the Azerbaijan-Georgia-Romania Interconnector (AGRI) project for LNG transportation through Georgia and the Black Sea to Romania.
• Romgaz (Romania)coreStrategic or Co-development PartnerRomgaz is a founding partner of the SC AGRI LNG Project Company S.R.L., the joint company implementing the Azerbaijan-Georgia-Romania Interconnector (AGRI) project for LNG transportation through Georgia and the Black Sea to Romania.

Scale indicators11 records

Recent moves8 records

Expansion highlights8 records

Direct peers

• Ukrtransnafta: Ukraine's state oil pipeline operator, co-shareholder with GOGC in Sarmatia LLC for the EAOTC corridor. Comparable as a state-owned operator of strategic crude oil pipeline infrastructure and a partner in the same regional transit ventures.
• KazMunayGas: Kazakhstan's national oil and gas company with vertically integrated upstream, midstream pipeline, and downstream operations. Comparable as a state-owned NOC managing national pipeline assets and international consortium interests across the broader Caspian/Central Asian energy corridor.
• AB Klaipėdos Nafta: Lithuania's state-owned oil terminal and LNG infrastructure operator, co-shareholder with GOGC in Sarmatia LLC. Comparable as a state-controlled midstream/terminal operator participating in Caspian–Baltic energy transit projects.
• TPAO (Turkish Petroleum Corporation): Turkey's national oil company with interests in BTC (6.53%) and other consortiums. Comparable as a state-owned NOC participating in the same regional pipeline consortia and seeking Caspian and Central Asian upstream/transit opportunities.
• Turkmengas: Turkmenistan's state gas company and the upstream source behind the Trans-Caspian and White Stream pipeline concepts in which GOGC holds 10% promoter stakes. Comparable as a state-owned national gas monopoly with cross-border pipeline ambitions toward Europe.
• Naftogaz: Ukraine's state-owned integrated gas and oil company, with majority state ownership and a similar role in transit pipeline operations (including via Sarmatia, where GOGC and Naftogaz-affiliated Ukrtransnafta are co-shareholders). Directly comparable as a state-owned national energy infrastructure operator in the regional transit corridor.
• BOTAS: Turkey's state-owned petroleum pipeline corporation, operating the high-pressure gas transmission network across Turkey and serving as the counterpart for transit of SCP and BTC volumes into Turkish and European markets. Directly comparable in pipeline-transmission business model and state-owned infrastructure mandate.
• SOCAR (State Oil Company of Azerbaijan Republic): Azerbaijan's state oil company and GOGC's closest analogue: a National Oil Company with pipeline/transit operations, power generation, international consortium leadership (BTC, SCP, WREP, AGRI, Sarmatia), and direct state-interest protection roles. GOGC's strategic engagement with SOCAR across multiple consortia makes it the most directly comparable peer.
• Romgaz: Romania's state-controlled natural gas producer and infrastructure operator. Founding partner alongside GOGC in the AGRI LNG project company. Comparable as a state-owned national gas company engaged in cross-border transit infrastructure projects targeting European markets.
• PERN Przyjaźń S.A. Poland's state-controlled operator of crude oil pipelines and storage infrastructure, co-shareholder with GOGC in Sarmatia LLC for the EAOTC. Comparable as a state-owned strategic oil pipeline operator engaged in the same Caspian-to-Central-European transit corridor.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/georgian-oil-and-gas-corporation

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries4 records

Funding overview

Funding rounds

Investors

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M&A

Investments

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Frequently asked questions about Georgian Oil and Gas Corp