XRG signs deal to buy stake in Azerbaijan’s Southern Gas Corridor
- Feb 2
- 1 min read
Riyadh, February 2, 2026 (Saudi Arabia Breaking News) – XRG signed a sales and purchase agreement with Ministry of Economy of the Republic of Azerbaijan to acquire an equity stake in Southern Gas Corridor CJSC (SGC), subject to conditions including regulatory and antitrust approvals.
The agreement was signed in the presence of Sheikh Mohamed bin Zayed Al Nahyan and Ilham Aliyev by Sultan Al Jaber and Mikayil Jabbarov.
The Southern Gas Corridor supply chain moves natural gas from Azerbaijan’s Caspian Sea sector through Georgia and Türkiye to southern Europe via the South Caucasus Pipeline, the Trans Anatolian Pipeline and the Trans Adriatic Pipeline.
SGC, an Azerbaijani energy holding company established in 2014, holds natural gas production assets and a 3,500-km pipeline network, with current capacity of up to 26 billion cubic meters per year.
The transaction fits XRG’s strategy to build an international gas portfolio and expands its footprint in the Caspian region, building on existing collaboration with SOCAR, including participation in the Absheron gas and condensate field.
