Energy cooperation issues were discussed by the Minister of Economy and Sustainable Development of Georgia, Mariam Kvrivishvili, and the Chairman of China ZhenHua Oil, one of the largest state-owned energy companies in China, Wang Yutao, at a meeting in Beijing, which was held within the framework of the visit of the Minister of Economy and Sustainable Development of Georgia to the People's Republic of China, the Ministry of Economy and Sustainable Development of Georgia reports.

According to them, the parties discussed the possibilities of oil and gas extraction in Georgia at the meeting.

“The Chinese side expressed interest in investing in Georgia’s energy sector.

The Minister of Economy and Sustainable Development also provided information on Georgia’s economic potential. As noted at the meeting, the Georgia-China strategic partnership, strengthened by a free trade agreement and visa-free travel, creates a solid institutional foundation for Chinese business.

China ZhenHua Oil Co. Ltd. is a large Chinese oil and gas company. It invests in exploration, field development and oil and gas trading. The company’s registered capital is approximately 1-1.1 billion US dollars, total assets are in the range of 5-8 billion, and the annual volume of oil and gas trading exceeds 50 million tons, which provides more than 20 billion dollars in revenue per year.

The meeting with attended by the Deputies to the Minister, Irakli Nadareishvili and Genadi Arveladze, as well as the Director of Produce in Georgia, Mikheil Khidureli, the Head of State Agency for Oil and Gas, Giorgi Tatishvili, and Georgian Ambassador to China Besik Sharashenidze.