TotalEnergies (35%, operator) and its partners SOCAR (35%) and XRG (ADNOC’s international investment company, 30%) have taken the final investment decision (FID) for the full development of the Absheron gas and condensate field in Azerbaijan (TotalEnergies press release, 26/09/2026).
Located in the Caspian Sea, the Absheron field contains approximately 140 bcm of recoverable gas reserves. Its first development phase, which has a production capacity of 1.5 bcm/year of gas and 12,000 bbl/d of condensate, was successfully brought on stream in 2023.
The Absheron full-field development will raise total field production four-fold to 6 bcm/year and 47,000 bbl/d of condensate. The project is expected to start up in 2029. According to the press release, the gas will be supplied both to the domestic market and exported to Turkey through the existing gas infrastructure linking Azerbaijan to the European gas market, thereby strengthening regional energy security.
The country has been exporting gas since 2007, following the commissioning of Shah Deniz. According to our data, exports have increased 5-fold since 2008, reaching 26 bcm in 2025. In 2025, exports went mainly to Europe (51%), Türkiye (38%) and Georgia (9%) (Enerdata Global Energy Research).
In addition, TotalEnergies has released its strategy outlook toward 2030, with the company aiming to:
- Increase its energy production (oil, gas and electricity) by 4%/year through 2030
- Achieve more than 3% average annual oil & gas production growth between 2025 and 2030.
- Increase power generation by more than 20%/year, reaching 100–120 TWh/year by 2030, representing around 20% of the Company’s energy mix by then.
- Reduce its emissions from operations by 2030 (50% cut in Oil and Gas Scope 1+2 compared to 2015 and 80% cut in methane emissions compared to 2020).