On January 21, the start-up of pre-construction design studies of the Underground Natural Gas Storage (UGS) in Georgia was held in hotel "Marriott Tbilisi" hosted by the tender winning company "Ramboll Oil & Gas". Among the participants of the meeting were the representatives of the senior management of the Millennium Challenge Georgia Fund and the Georgian Oil & Gas Corporation, executives of Ramboll's contractor company "KBB" and Georgian, Danish and German experts.

At the initial meeting Nils Ringe, Ramboll's Project Director, presented the plan for the design and study of the UGS, study methodology and named the forms and terms for presenting the final findings.

MCG awarded the contract for implementation of the UGS pre-construction design works to "Ramboll Oil & Gas" on December 29, 2009. The contract with the value of up to $3,4 million provides for implementation of pre-construction design study of the underground gas storage, which includes integrated analysis and investigation of full-scale technical, geological, environmental, economic, financial, legal and other related aspects required for construction of the UGS in Georgia. The works will be carried out during 12 months.

The Georgian Oil & Gas Corporation will assume management and supervision over the UGS pre-construction design studies.

***

With the total budget of $49,5 the Energy Infrastructure Rehabilitation Project aims at restoring the emergency sites on the North-South Gas Pipeline that are subject to immediate rehabilitation. 22 sites have already been rehabilitated in the scope of the project (for additional information visit: www.mcg.ge). In addition, the project will provide support to the Ministry of Energy of Georgia in implementing the UGS pre-construction design studies.