One of the results of business meetings held in Georgia in the frames of German Chancellor"s visit, is an agreement on construction of underground gas storage.

The gas reservoir for which the German Reconstruction and Development Bank will allocate 150 million euros, will be built on the territory of Samgori. The storage reservoir will be 2400 meters deep and its capacity will be about 280 million cubic meters.

The first phase of construction will start from the next year and will be exploited in 2022. Its launch is planned for the completion of the second phase of the Shahdenis project.

The Oil and Gas Corporation signed the agreement with German Reconstruction and Development Bank on the construction of gas storage.

The 15-year agreement implies preferential terms and requires no ensuring by state guarantees.