XRG Bolsters Caspian Gas Presence with Southern Gas Corridor Stake Acquisition
XRG has completed its acquisition of an equity stake in Southern Gas Corridor CJSC (SGC), a key player in connecting Caspian gas resources to European energy markets. The transaction involves XRG purchasing the stake from Azerbaijan's Ministry of Economy, marking a significant step in the company's strategy to establish a stronger presence in the region.
The Southern Gas Corridor is a 3,500-kilometre integrated natural gas transportation network that extends from Azerbaijan's Caspian Sea production areas through Georgia and Türkiye to Southern Europe. The corridor has the capacity to transport up to 26 billion cubic metres of natural gas annually, making it an important component of Europe's efforts to diversify energy supplies.
Mohamed Al Aryani, President of International Gas at XRG, described the transaction as a defining milestone for the company's integrated Caspian strategy. He highlighted the importance of connecting gas resources in Azerbaijan and Turkmenistan with established export infrastructure and expanding regional and European demand.