XRG has completed its acquisition of an equity stake in Southern Gas Corridor CJSC (SGC) from the Ministry of Economy of the Republic of Azerbaijan, follow-ing the satisfaction of all conditions precedent and receipt of customary regulatory approvals.
The completion represents a major milestone in XRG’s strategy to build an integrated and resilient gas position across the Caspian region. By combining participation in strategic export infrastructure with upstream investments in Azerbaijan’s Absheron gas and condensate field and Turkmenistan’s offshore Block I concession, XRG is helping connect high-quality Caspian resources with established routes to growing regional and European markets.
The Southern Gas Corridor is a critical 3500-km integrated network transporting natural gas from the Azerbaijani sector of the Caspian Sea through Georgia and Türkiye to Southern Europe. Its assets include interests in the Shah Deniz gas and condensate field, the South Caucasus Pipeline, the Trans Anatolian Pipeline, and the Trans Adriatic Pipeline, together with shares in Azerbaijan Gas Supply Company. With capacity to deliver up to 26 billion m3/y of natural gas, the net-work supports the reliability and diversification of energy supplies while reinforcing Azerbaijan’s role as a long-term and trusted energy partner.
Mohamed Al Aryani, President, International Gas at XRG, said: “This completion is a defining step in the development of XRG’s integrated Caspian strategy. By combining world-class gas resources in Azerbaijan and Turkmenistan with strategic export infrastructure, we are building a resilient platform that connects advantaged supply with growing regional and European demand. It also reflects our commitment to long-term partnerships and disciplined investment that supports energy security, economic growth, and enduring value across the region.”