More moves abroad from XRG, Emaar, PureHealth, and Masdar

XRG acquires Southern Gas Corridor stake

XRG closes its Southern Gas Corridor investment: Adnoc’s global investment arm XRG completed its acquisition of an undisclosed equity stake in Azerbaijan’s Southern Gas Corridor (SGC) from the country’s Energy Ministry after securing the required regulatory approvals, according to a press release (pdf). The company didn’t disclose the size or value of the stake — though Trend.az and Egypt Oil & Gas reported it at 12.5%.

The stake buys XRG into the main route carrying Azerbaijani gas into Europe. The USD 40 bn project spans a 3.5k km network running through Georgia and Turkey into Southern Europe, with interests covering the Shah Deniz gas field, South Caucasus Pipeline, Trans Anatolian Pipeline, and Trans Adriatic Pipeline. The corridor can carry up to 26 bcm of gas annually.

XRG is building beyond the wellhead. It already holds 30% of Azerbaijan’s Absheron gas and condensate field and 38% of Turkmenistan’s offshore Block I concession, which produces around 400 mmcf of gas a day and sits on more than 7 tcf of gas resources. SGC gives it the infrastructure to move that production, plus future Caspian supply, into established regional and European markets, not just a claim on what comes out of the ground.

We knew this was coming: XRG signed the acquisition agreement in February, after reaching a preliminary agreement in November 2025.

Serbia’s wind corridor gets a Masdar boost

Abu Dhabi Future Energy Company (Masdar) and Finnish renewable energy fund manager Taaleri Energia inaugurated the 154 MW Čibuk 2 wind farm — which they describe as the largest wind power hub in Serbia and the Western Balkans, according to a press release. Together with Čibuk 1, the projects have 312 MW of installed capacity, enough to supply around 178.8k households, with combined foreign direct investment of more than EUR 500 mn in Serbia’s energy infrastructure.

Masdar wants a bigger footprint: Masdar has more than 200 MW of additional Serbian projects in development across solar, wind, and battery storage. Čibuk is one node in a much larger build-out — Masdar is chasing a 100 GW global capacity target by 2030, and Serbia is one of several markets carrying that weight.

IN CONTEXT- The wind farm, announced in September 2024, was developed under a JV named Masdar Taaleri Generation, acting as a development vehicle for renewable energy projects in Serbia and Montenegro.

UAE-made storage heads to Germany

Abu Dhabi-listed Apex Investment is taking UAE-built energy storage technology into Germany, with its energy subsidiary Apex Energy’s JV with Enercap inking a partnership agreement with German developer New Loaded Energy (NLE), it said in an ADX disclosure (pdf). The partnership begins with two grid-connected German projects totaling 100 MWh. The 30 MWh and 70 MWh systems will use Enercap’s supercapacitor storage technology, supplied by its manufacturing facility in Dubai.

The project is Enercap’s first grid-scale deployment in Germany and one of the largest exports of UAE-manufactured energy storage equipment to the EU to date. Apex Energy and NLE plan to roll out a pipeline of additional grid-scale projects across Germany and the rest of Europe through 2028 while working on grid-code certification and compliance, as well as local installation, commissioning, and maintenance capabilities.

Emaar hands out contracts in Egypt for Red Sea project

Emaar Misr handed EGP 14 bn in construction contracts to Rowad Modern Engineering and Innovo Group to build residential units under the first phase of its Marassi Red Sea project, according to a press release (pdf). Rowad will build 675 villas and townhouses across roughly 150k sqm in the Infinity Beach zone, while Innovo will take on around 220 villas across roughly 100k sqm for Island Living. Units in this first phase are set for handover in 2029.

What the first phase looks like: The two villa packages join an earlier EGP 5.7 bn contract (pdf) that Emaar already awarded to Arabian Construction Company for 32 residential buildings (750 units) around the project’s marina. That brings the tally of signed contracts for the first phase to around EGP 20 bn so far.

The project behind the numbers: Marassi Red Sea is a 2.4k-feddan integrated resort on the Red Sea coast, about 30 minutes from Hurghada International Airport. Emaar Misr and Saudi-owned Citystars Properties (via its Golden Coast affiliate) signed the EGP 900 bn development agreement in September 2025. The masterplan (pdf) calls for 12 luxury hotels, three marinas, 500-plus retail and dining outlets, swimmable lagoons, and the Marassi Wonders entertainment zone. Phase 1 sales have already topped EGP 80 bn, according to Emaar Properties Chairman Mohamed Alabbar, and Phase 2 is now on the market.

PureHealth builds out the UK stack

PureHealth is taking over selected Unilabs laboratory operations in the UK through subsidiary Circle Health Group, adding two London hub labs and a wider licensed network serving more than 90 external healthcare clients, according to a statement. The labs will support Circle’s more than 50 UK hospitals across pathology, blood sciences, microbiology, and other diagnostics.

The play is integration as well as footprint: PureHealth plans to fold the network into its PureLab platform, which runs more than 150 UAE labs and processes over 25 mn tests a year. Circle’s existing hospital volumes will feed into the network from day one, with more expected to shift over time.

IN CONTEXT- The move builds on PureHealth’s wider overseas expansion through Circle Health — which it acquired for USD 1.2 bn in 2024 — and Hellenic Healthcare Group. That push is already showing up in the numbers, with overseas healthcare revenue rising 56% y-o-y to AED 5 bn in 1H 2026.