Baku: XRG is actively engaging in discussions to further expand its activities in Azerbaijan, as revealed by Bassem Tadros, Chief Vice President for International Assets Management at XRG, during the Baku Energy Forum. The session, titled 'Leaders' Speeches: Leaders' Perspectives on Energy Transformation and Future Strategies', highlighted the anticipated significant increase in global demand for natural gas over the next decade.

According to Azeri-Press News Agency, Tadros emphasized the varying perspectives on the long-term gas market outlook but noted a general consensus on the impending growth in global demand. XRG, a $150 billion energy investment fund, was founded to address this rising demand by investing in the development of gas projects worldwide.

Tadros underlined XRG's commitment to supporting international gas projects by leveraging financial resources, technical expertise, and intergovernmental partnerships. Over the past year and a half, XRG has expanded its involvement in gas projects across several countries, including Azerbaijan.

The company's engagement in Azerbaijan includes participation in the Absheron project through a partnership with SOCAR and an agreement to acquire a stake in the Southern Gas Corridor. Tadros confirmed ongoing discussions to further expand XRG's activities in Azerbaijan.

He highlighted the complexity, capital intensity, and high-risk nature of energy projects, especially those crossing borders, making partnerships essential for mitigating risks and speeding up implementation.