An agreement for the sale and purchase of natural gas from the upcoming production of Azerbaijan's Absheron gas field has been signed by SOCAR, TotalEnergies, ADNOC, and the Turkish pipeline company BOTAŞ.

The signing took place during Baku Energy Week, with participants including SOCAR President Rovshan Najaf, BOTAŞ Chairman and General Manager Abdülvahit Fidan, TotalEnergies Senior Vice President for Exploration & Production Europe Martino Pani, and XRG International Gas President Mohamed Al Alyani.

A final investment decision for the second phase of the Absheron project is anticipated this year. Annual gas production is scheduled to commence in 2029, with output expected to exceed 4 billion cubic meters per year.

An official from SOCAR stated that, under the terms of the agreement, approximately half of the produced gas will be supplied to the Turkish market.

The Absheron field is one of Azerbaijan's largest gas condensate fields. Its second development phase is set to enhance the country's gas export capacity and contribute to regional energy security.