SOCAR, TotalEnergies and ADNOC lock in Caspian gas supply deal
AI Summary
Azerbaijan's SOCAR has finalized a significant long-term agreement with TotalEnergies, ADNOC's investment arm XRG, and Turkey's BOTAŞ to export gas from the Absheron offshore field starting in 2029. This deal strengthens the Southern Gas Corridor, a critical route for Europe's energy imports as the continent shifts away from Russian gas. The collaboration underscores the importance of diversifying energy sources and highlights the Caspian region's role in meeting Europe's growing energy needs.
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