BAKU, Azerbaijan, June 1. XRG, the
international energy investment arm of ADNOC of the United Arab
Emirates (UAE), expects the procedures for purchasing a stake in
Southern Gas Corridor CJSC from the Ministry of Economy of
Azerbaijan to be completed in September 2026, a source in the
company told Trend
on the sidelines of the 31st International Caspian Oil and Gas
Exhibition in Baku today.


It was recalled that on November 3, 2025, within the framework
of the ADIPEC Exhibition and Conference held in the United Arab
Emirates, XRG, the international energy investment arm of ADNOC,
signed an Agreement on the Main Terms, which does not create a
legal obligation, for the acquisition of a share in the Southern
Gas Corridor CJSC from the Ministry of Economy of Azerbaijan.


The document was signed in accordance with the "Memorandum of
Understanding between the Ministry of Economy of Azerbaijan and XRG
OJSC on Investment in the Southern Gas Corridor", which was
exchanged within the framework of the meeting of the President of
the Republic of Azerbaijan, Ilham Aliyev, with the President of the
UAE, Sheikh Mohammed bin Zayed Al Nahyan, who visited Azerbaijan in
September 2025. At the same time, it will contribute to the further
expansion of relations based on a strategic partnership between
Azerbaijan and the UAE, including economic ties and cooperation on
energy projects, as well as to the economic development of
Azerbaijan and the further strengthening of its role as a reliable
partner.


The signed document is the third agreement reached between SOCAR
and XRG/ADNOC. Thus, the parties have previously reached an
agreement on the transfer of the participation stake in the SARB
and Umm Lulu fields to SOCAR, as well as the sale of the
participation stake in the Absheron gas and condensate field to
ADNOC. The volume of the share to be purchased is 12.5%.







The Southern Gas Corridor CJSC, which began operating in 2014,
has a share in gas production assets and a pipeline network with a
total length of 3,500 kilometers. This infrastructure, with an
annual transport capacity of up to 26 billion cubic meters, allows
for the transportation of natural gas from the Caspian basin to
Southern Europe via Türkiye.


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