Tolga Demir: XRG expanding cooperation with SOCAR from production to EU energy supplies

The Caspian region holds a central place in the strategy of global investment platform XRG, the international energy investment arm of ADNOC, XRG"s Country Manager for Azerbaijan, Tolga Demir, said at the 12th Ministerial Meeting of the Southern Gas Corridor Advisory Council and the 4th Ministerial Meeting within the Green Energy Advisory Council, as quoted by Report.

"As a global investment platform, we are building a diversified portfolio aimed at meeting growing global energy demand, and the Caspian region is a key element of our strategy," he said.

Demir recalled that the company had previously acquired a stake in the Southern Gas Corridor project with the support of the top leadership of both countries.

"This agreement expands XRG's cooperation with the State Oil Company of Azerbaijan, SOCAR, from gas production to ensuring reliable energy supplies to European markets seeking diversified and secure sourcing. By investing in this corridor, we are strengthening long-term energy security while reinforcing Azerbaijan's role as a strategic bridge between producers and consumers," the country manager added.

A Memorandum of Understanding between Azerbaijan's Ministry of Economy and XRG ASC on investments in the Southern Gas Corridor was signed in November 2025.