Purchasing Price For Russian Gas Delivered To Georgia Was Always Minimal

On Saturday the press service of the "Itera Holding" company stated in connection with reports in mass media related to matters of supplying natural gas to Georgia that purchasing prices for gas supplied to Georgia were always as low as possible with due account taken of the state of Georgian economy. According to the report of the press service, the "Itera" concern was supplying natural gas to Georgia during the last 5 years in accordance with annually concluded contracts. In total for the period from 1996 "Itera" supplied about 5.4 billion of cubic meters of gas to Georgia. According to explanations provided by the press service, in 2001 "Itera" supplied Georgia with 576 million of cubic meters of natural gas at the average price of USD 50.12 per 1000 cubic meters. Due to constant non-fulfilment by the Georgian side of its contractual obligations in relation to payment for the delivered gas and to frustration of debt repayment schedules "Itera", according to the information provided by the press service of the company, repeatedly had to temporarily reduce and even completely terminate its gas deliveries to Georgia. The last time "Itera" reduced gas delivery volumes on 19 October this year. The press service of the company stressed that the accumulated indebtedness of Georgia to "Itera" for the delivered fuel amounted to USD 82 million.