XRG completes Southern Gas Corridor deal, expanding Caspian gas route to Europe
Dubai: XRG has completed its acquisition of an equity stake in Southern Gas Corridor CJSC from Azerbaijan’s Ministry of Economy, adding a major export network to its growing portfolio of gas assets across the Caspian region. Get updated faster and for FREE: Download the Gulf News app now - simply click here. The transaction gives the Abu Dhabi-based company exposure to a 3,500-kilometre gas…
Abu Dhabi-based energy company XRG has finalized its acquisition of a stake in Southern Gas Corridor CJSC, a joint venture between Azerbaijan's Ministry of Economy. This strategic move expands the company's portfolio of gas assets across the Caspian region, enhancing its presence in the region's growing energy market. The Southern Gas Corridor network stretches over 3,500 kilometers, transporting natural gas from Azerbaijan to Southern Europe via Georgia and Türkiye.
The deal grants XRG access to a 26 billion cubic meters of natural gas annually, complementing its existing investments in Azerbaijan and Turkmenistan. By connecting production with export infrastructure, the acquisition bolsters XRG's position in the global gas market, while also strengthening its ties with Azerbaijan's SOCAR and enhancing relations between the UAE and Azerbaijan.
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- Abu Dhabi’s XRG seals stake in Azerbaijan’s Southern Gas Corridor thenationalnews.com
