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Georgia

 Flag of Georgia

Last reviewed: 7 April 2008

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TRADE AND INVESTMENT

Trade and Investment with the UK

UK exports to Georgia in 2006 totalled almost £38 million. The $4 billion Baku-Tbilisi-Ceyhan pipeline, a project led by BP, officially opened in July 2006 and transports crude oil 1,760 km (1,093 miles) from the Azeri-Chirag-Guneshli oil field in the Caspian Sea to the Mediterranean Sea. It is the second longest oil pipeline in the world (the longest being the Druzhba pipeline from Russia to central Europe).

The BTC pipeline transports one million barrels per day, 10% of the world’s tradable oil. It provides an outlet for Caspian oil avoiding the use of the Russian pipelines and the transit risks of the Bosporus Straits. The total value of BP-led investments that are currently under development in the region will be in excess of US$22 billion by 2010.

Securing reliable and diverse energy suppliers has dominated much of 2006 and early 2007. In the longer-term Georgia hopes to reduce its dependence on imported energy by developing its considerable potential for hydroelectric power generation and accessing gas from the South Caucasus Pipeline supplying Shah Deniz gas from Azerbaijan to Turkey.

There is commercial interest in the further development of the new Black Sea port facilities at Poti and Batumi, both of which are likely to attract some degree of funding from international financial institutions. The Georgian Government is keen to see these ports become the main cargo terminals for the Caucasus and Central Asia. Linked with these projects is the EU initiative for regional transport integration, TRACECA (Transport Corridor Europe Central Asia). Georgia also benefits from the ‘western route' oil pipeline from Baku to Supsa on Georgia's Black Sea coast, which was formally opened on 17 April 1999.

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Contacts

Georgia, Tbilisi, British Embassy

Address:

British Embassy
GMT Plaza
4 Freedom Square
Tbilisi, 0105

Telephone:

+ 995 32 274747 (Main Embassy Switchboard)
+ 995 32 274775 (Visa/Consular Enquiries)

Fax:

+ 995 32 274792 (Main Embassy)
+ 995 32 274779 (Visa/Consular Section)

Office hours:

GMT:
Mon-Fri: 0500-0900 1000-1300

Local Time:
Mon-Fri: 0900-1300 1400-1700

Daylight saving: Georgia does not change its clocks.

Website: http://ukingeorgia.fco.gov.uk/en/

South Georgia and South Sandwich Islands, Governor's Office