NATURAL GAS MARKET LIBERALIZATION IN GEORGIA: PROSPECTS FOR COMPETITIVE TRADING AND AN ORGANIZED GAS MARKET
DOI:
https://doi.org/10.31435/ws.3(93).2026.6823Keywords:
Natural Gas, Georgia, Market Liberalisation, Deregulation, Gas Trading, Energy Exchange, CompetitionAbstract
Natural gas plays a significant role in Georgia’s energy system, while the country remains highly dependent on imported gas and a limited number of supply sources. At the same time, Georgia’s approximation to the European energy regulatory framework requires gradual transformation of the existing market structure towards a more competitive, transparent and rules-based model. This article examines the main principles of natural gas market liberalization and considers their applicability to Georgia. Drawing on international experience, including the development of competitive gas hubs and the liberalization of the Estonian gas market, the article argues that the introduction of an organized trading platform could support Georgia’s market reform, but only if accompanied by adequate supply diversification, infrastructure development, effective regulation and measures to improve market liquidity.
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