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TotalEnergies, SOCAR and XRG Approve Caspian Gas Project Expansion, Start-Up in 2029
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On September 26, Azerbaijan's state oil company Socar, French energy giant TotalEnergies, and Abu Dhabi National Oil Company's XRG unit approved a project to boost natural gas production from the Caspian Sea. TotalEnergies stated on Saturday that the second phase of the Absheron condensate field, located in Azerbaijan's Caspian waters, will begin production in 2029. The entire field's output is expected to reach 60 billion cubic meters of natural gas per year and 47,000 barrels per day of condensate. The first phase of the development has been supplying gas to Azerbaijan's domestic market. The planned expansion will also enable gas exports to Turkey via existing infrastructure connecting Azerbaijan to European markets.
Source report
September 26 — Azerbaijan's state oil company Socar, French energy giant TotalEnergies, and XRG, a division of the Abu Dhabi National Oil Company (ADNOC), have approved a project to boost natural gas production in the Caspian Sea.
According to a statement from TotalEnergies on Saturday, the second phase of production at the Absheron gas condensate field, located in Azerbaijan's sector of the Caspian Sea, is scheduled to begin in 2029. Once fully operational, the field's total output is expected to reach:
- 6 billion cubic meters of natural gas per year
- 47,000 barrels of condensate per day
TotalEnergies noted that the first phase of the development has been supplying gas to Azerbaijan's domestic market. The planned expansion will also enable gas exports to Turkey, utilizing existing infrastructure that connects Azerbaijan to European markets.
Source
金十数据Neutral / independent
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SOCAR, TotalEnergies, ADNOC's XRG approve second phase of Absheron gas field development