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Georgia to sell main gas pipeline

07 July 2010 10:48 (UTC +04:00)

Baku â€“ APA-Economics. Parliament endorsed on July 6 with 88 votes to 5 in first reading a draft law on privatization of state assets, lifting restriction on sale of Georgiaâ€™s North-South Gas Pipeline, Civil Georgia reported.

MP Pavle Kublashvili, chairman of parliamentary committee for legal affairs and his deputy MP Lasha Tordia have sponsored a proposal, which envisages unification of four separate laws related to privatization of state assets into one legislature.

Among other issues, the draft envisages removing trunk gas pipeline, which transmits natural gas from Russia into Armenia via Georgia, from the list of facilities which are banned from being privatized.

The controversial proposal triggered debates during the session with lawmakers from the parliamentary minority opposing the initiative.

PM Nika Gilauri told lawmakers on July 2, that the government had no immediate plans to sell Georgiaâ€™s North-South Gas Pipeline. He, however, also did not rule out to sell minority shares of the pipeline through initial public offering at London Stock Exchange not earlier than in couple of years.

PM Gilauri also said that the state â€œwill in no way give up the controlling stakesâ€ of the pipeline.