Much of the gas is already contracted, including a long term sales agreement signed in June with Turkey's BOTAŞ. The molecules will travel via the South Caucasus Pipeline, TANAP and TAP to reach Italy, while condensate will move through the BTC pipeline. The project represents a strategic shift for Abu Dhabi, as the UAE is now funding Caspian gas assets that compete directly with its own liquefied natural gas exports.
Wednesday, October 21, 2026
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Socar and TotalEnergies Quadruple Absheron Gas Output
Commodities25 days ago
Annual production at a joint Caspian venture will reach 6 bcm by 2029 after a final investment decision was approved for full development. Socar, TotalEnergies and ADNOC's XRG unit will increase output at the Absheron field from its current 1.5 bcm and lift condensate production from 12,000 to 47,000 b/d without needing new pipelines. TotalEnergies operates the site with a 35% stake, alongside a 35% share for Socar and 30% for XRG.
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