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BOTAS signs 33 bcm gas supply agreement from Absheron (Azerbaijan)

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SOCAR, BOTAS, TotalEnergies, and ADNOC have entered into a new 15-year natural gas supply agreement covering production from the Absheron field, located in the Azerbaijani sector of the Caspian Sea (Türkiye's Energy Ministry statement, 01/06/2026). Under the agreement, 33 bcm of natural gas will be delivered to Türkiye starting in 2029, supported by new production investments at the Absheron field.

  • In January 2026, Azerbaijan and Türkiye signed a separate 15-year agreement for the supply of 33 bcm of gas from the Absheron field, with deliveries scheduled at a rate of up to 2.25 bcm per year from 2029 and extending into the 2040s. The volumes will be transported via the Baku-Tbilisi-Erzurum pipeline (KEI, 07/01/2026).
  • The Absheron block lies around 100 km from Baku in waters approximately 500 metres deep. Development activities are being carried out by the Joint Operating Company of Absheron Petroleum (JOCAP). Initially, SOCAR and TotalEnergies each held a 50% interest in the project. In August 2023, ADNOC acquired a 30% stake, purchasing 15% from SOCAR and 15% from TotalEnergies.
  • The field development contract has a duration of 30 years. Preliminary estimates indicate reserves of approximately 350 bcm of natural gas and 100 Mt of condensate (Interfax, 01/06/2026).

In 2023, TotalEnergies and SOCAR announced the launch of the first development phase of the Absheron field. Peak production reached 1.5 bcm per year in 2024. Output from this initial phase is dedicated to meeting Azerbaijan’s domestic gas demand.

A final investment decision (FID) on the second phase of the Absheron project is anticipated later in 2026. Production from this phase is expected to commence in 2029, with annual gas output projected to exceed 4 bcm. The Absheron field ranks among Azerbaijan’s largest gas-condensate fields. The planned second phase of development would further strengthen the country’s gas export capacity.

The country’s natural gas production has more than doubled since 2018, rising from 20 bcm to 40 bcm in 2024, largely driven by the ramp-up of the Shah Deniz field, the country’s largest gas field, which accounts for around two-thirds of total production. In 2025, the country’s gas exports went mainly to Europe (51%), Türkiye (38%) and Georgia (9%) (Enerdata Global Energy Research).