XRG finalizes stake in Southern Gas Corridor
XRG has completed its acquisition of an ownership stake in the Southern Gas Corridor Company from the Ministry of Economy of Azerbaijan, following the fulfillment of all necessary conditions and obtaining the required regulatory approvals. This move is part of XRG’s strategy to strengthen its presence in the gas sector in the Caspian Sea region, where high-quality gas resources in Azerbaijan and Turkmenistan are connected to reliable export routes, including pipeline networks extending approximately 3,500 kilometers to Southern Europe. The investment aims to support energy security and enhance supply diversification, with a transport capacity of up to 26 billion cubic meters annually. It underscores XRG’s commitment to developing long-term partnerships in the regional energy sector, expanding its connections with Azerbaijani companies, and making sustainable investments to foster economic growth.
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