XRG Finalizes Southern Gas Corridor Stake

XRJ Company, a subsidiary of Abu Dhabi’s ADNOC, has completed its acquisition of an ownership stake in the Southern Gas Corridor in Azerbaijan. This move aims to strengthen its presence in the gas sector in the Caspian Sea region and to connect the region's resources with European and regional markets. The investments include a share in the Absheron field in Azerbaijan, an exploration concession in the Marine Zone 1 for offshore gas in Turkmenistan, as well as a stake in the Southern Gas Corridor network, which extends 3,500 kilometers and has an export capacity of 26 billion cubic meters of gas annually. The goal is to establish an integrated platform that combines resource development, export infrastructure, and long-term energy supplies to support European markets seeking to diversify their gas sources and routes. This step is part of XRJ's strategy to enhance its global presence in the energy sector.

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