Azerbaijan’'s state oil company SOCAR signed a long-term gas supply agreement with TotalEnergies, ADNOC’'s investment arm XRG and Turkish state pipeline operator BOTAŞ, securing future exports from the Absheron offshore site in the Caspian Sea’ from 2029.
The agreement, announced at Baku Energy Week ’, covers the gas supply to be obtained from the next development phase of the Absheron site. The final investment decision for this phase is expected later this year.
SOCAR press spokesman Emin Sevdimaliyev said that “SOCAR signed an agreement with XRG, TotalEnergies and BOTAŞ on the supply of Azerbaijani gas to Turkey’, a major development.” said.
“Different companies will strengthen cooperation between Azerbaijan, Turkey and our foreign partners. The Southern Gas Corridor will also contribute to the importance of ’.”
The Southern Gas Corridor, which transports Caspian gas to Turkey's ’ and from there to Europe's ’, has become even more important since ’'s total occupation of Ukraine's ’ in 2022, when European governments stepped up their efforts to reduce dependence on Russian pipeline gas.
Azerbaijan has steadily increased its gas exports to Europe’ya since then; Brussels sees the Caspian gas supply as part of its broader diversification efforts.
Azerbaijan is already one of the main gas suppliers of ’ in Turkey. While Ankara is trying to diversify its import sources, the agreement is expected to deepen this relationship.
The agreement for ADNOC marks another international expansion through investment platform XRG, and shows Abu Dhabi’'s growing interest in securing positions in global gas infrastructure.
The Absheron site is located about 100 kilometers southeast of Baku ’ and is estimated to contain about 350 billion cubic meters of natural gas and 100 million tons of condensation water at a depth of 500 meters.
