AO Gruzgaz

active

Gruzgaz was a natural gas distribution company which supplied gas between regions through its 12 subsidiary companies. Until 2000, Gruzgaz, inter-mediated gas deliveries from Itera, the sole gas supplier to Georgia, to Tbilgaz. Initially called, Intergaz, the company was a set-up in 1997 by Interpak (50%), a Georgian-British company registered in Tbilisi and private investor, Robert Bezhuashvili. Interpak was owned by the Georgian company Kledari Ltd. (20%) and "Channel International Ltd (80%). By 1998 it had acquired controlling interest in 12 gas distribution companies in the region of Kvemo Kartli. In October 1998, Intergaz was re-named as "Gruzgaz" and Bezhuashvili sold his stake to Itera. At the end of 1998, the shareholders of Intergaz were Interpak (50%), Itera International (40%), and Itera Georgia (10%). The ITERA group of companies, which was the sole the supplier to Georgia, acquired a 100% interest in the company in September 2001 by purchasing 505 stake from Channel International Ltd.