Global demand for natural gas is expected to increase significantly over the next decade, said Bassem Tadros, Chief Vice President for International Assets Management at XRG, during the session titled “Leaders’ Speeches: Leaders’ Perspectives on Energy Transformation and Future Strategies” at the Baku Energy Forum, APA-Economics reports.
According to him, although there are different views regarding the long-term outlook for the gas market, there is a general consensus that global demand will grow.
Tadros said that XRG was established precisely to meet this growing demand. He noted that the company operates as a $150 billion energy investment fund and invests in the development of gas projects around the world.
“We support the implementation of international gas projects by combining financial capabilities with strong technical expertise and intergovernmental partnerships,” he stressed.
According to the XRG official, the company has expanded its participation in gas projects in several countries, including Azerbaijan, over the past year and a half.
He noted that XRG is involved in the Absheron project in Azerbaijan through its partnership with SOCAR and has also signed an agreement to acquire a stake in the Southern Gas Corridor.
“We are holding discussions to further expand our activities in Azerbaijan,” Tadros added.
According to him, energy projects, especially cross-border projects, are complex, capital-intensive and high-risk, making partnerships crucial for reducing risks and accelerating implementation.
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