Huge Gas Discovery in Georgia Raises New Hope for Future Gas Supplies to Europe

TBILISI, GEORGIA - Is it because oil and gas prices are falling? Frontera Corporation’s recent discovery of more than 5 trillion cubic meters (TCM) of natural gas in republic of Georgia has not gotten the attention it deserved. The implications of this discovery could be huge, both for Georgia and for Europe.

Gas Discovery in Georgia
"Frontera’s ongoing work had assessed the gas resources associated with its ongoing exploration and production efforts at the South Kakheti Gas Complex to contain as much as 187 trillion cubic feet (5.31 trillion cubic meters) of gas in place from reservoir targets found between 300 metres and 5,000 metres in depth." Frontera said. 
Frontera Resources Corporation (AIM: FRR) is an American independent oil and gas exploration and production company. "

According to Frontera, these volumes can be sold on the international market for 10 years and it can change the rules of the game in the international gas supply.

Up to now, Georgia has imported its gas from Azerbaijan. “Southern Corridor” pipelines, supplying oil and gas to Europe, go through Georgia.

This gas find means that the country now the opportunity to become a gas exporter. It could boost its income and economy and strengthen its ties with Europe. Europe on the other hand could gain a reliable gas supplier and become less dependent upon Russian gas deliveries.