TBILISI - (August 9, 2202) Earlier today, the U.S. Trade and Development Agency (TDA) committed almost $1 million to assist Georgia in the planning and implementation of oil and gas projects that will enhance the energy security of that country.

In a ceremony at the U.S. Embassy, U.S. Ambassador Richard Miles and Gia Chanturia, President of the Georgia International Oil Corporation (GIOC) signed a $683,000 grant agreement for a feasibility study on an Underground Gas Storage project. Ambassador Miles and Mr. Chanturia also signed a $270,000 grant amendment to extend the work of an environmental consultant who is assisting GIOC on the Baku-Tbilisi-Ceyhan (BTC) Oil Pipeline project and the South Caucasus Gas (SCG) Pipeline project.

The BTC and SCG projects are an integral part of the East-West Energy Corridor, the development of which has been a priority for Georgia and a focus of U.S. policy in the region. Over the past four years, TDA has provided over $5 million in assistance in support of the BTC and SCG projects.

"We are pleased to make this contribution to Georgia's long-term energy security," stated TDA Director Thelma J. Askey. "As I told President Shevardnadze when we met in Washington last fall, TDA will continue its efforts to assist the countries of the Caspian region by encouraging commercially viable and environmentally sound energy projects."

The U.S. Trade and Development Agency promotes American private sector participation in developing and middle-income countries, with special emphasis on economic sectors that represent significant U.S. export potential. By funding various forms of technical assistance, training grants, feasibility studies, orientation visits, and business workshops, TDA helps American businesses compete for infrastructure projects in emerging markets. In addition, the agency promotes capacity building initiatives and supports U.S. government trade, economic policy and development objectives around the world.

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