Azerbaijan’s state oil company SOCAR has signed a $1.65 billion deal to acquire stakes in US natural gas production and infrastructure assets, marking a major expansion of its presence in the American energy market. In recent years, the Azerbaijani state oil company has expanded its presence in European energy markets, including through its acquisition of a 99.82% stake in Italian energy company Italiana Petroli, completed in May 2026. SOCAR has also expanded its natural gas supplies to European countries, delivering gas to eight EU member states in 2025. The latest US deal extends this expansion beyond Europe and into the American natural gas sector. SOCAR is not the first Azerbaijani energy company to acquire production assets in the US. In July 2026, privately owned GL Group acquired assets across four producing oil and gas fields in Texas’ Permian Basin, comprising more than 200 active wells, and assumed full operatorship. According to pro-government outlet APA , SOCAR signed a final purchase agreement with US energy company Comstock on 4 November. Under the agreement, SOCAR will acquire a 20% stake in the upstream assets of the Legacy Haynesville project and a 15% stake in the upstream assets of the Western Haynesville project. The deal also includes a 15% share of Comstock’s 73% stake in Pinnacle Gas Services LLC, without operational management rights. This amounts to approximately 10.95% of Pinnacle Gas Services’ total ownership. The total transaction value is $1.65 billion, subject to customary purchase price adjustments. SOCAR’s stake in the Western Haynesville exploration and production assets will be reduced to 7.5% after five years, once the company has achieved a 15% return on its investment in those assets. The transaction's effective date has been set as 1 July 2026. The agreement has yet to be finalised, with the parties still awaiting approval from relevant government authorities and the completion of other legal procedures. The Haynesville region is one of the major shale gas-producing areas in the US.