Apollo sees Azerbaijan as gateway linking Central Asia to Western markets

Azerbaijan effectively serves as a gateway to Central Asia, giving the region’s raw materials access to Western markets, Jonathan Barr, Managing Director for Credit and Structured Finance at Apollo Global Management, said at the Second Azerbaijan International Investment Forum (AIIF 2026) in Baku on Friday, September 25.

Barr said Kazakhstan, Uzbekistan and Turkmenistan possess significant raw material resources but lack direct access to international markets that Azerbaijan offers.

“Azerbaijan effectively acts as a gateway to Central Asia,” Barr said, adding that when Apollo evaluates investment opportunities in Kazakhstan and Uzbekistan, it also considers ways to strengthen Azerbaijan’s position and facilitate the movement of commodities from those countries through Azerbaijan.

Barr said Apollo is among the major financial institutions with significant investments in the region. He noted that the company had invested $1 billion in the Trans-Anatolian Natural Gas Pipeline (TANAP) alongside SOCAR and $2 billion with BP in TAP and TANAP, as well as made several investments in financial institutions.

“A few months ago, we announced the signing of a memorandum of understanding with SOCAR to increase our presence in the region through SOCAR and direct billions of dollars in investments into regional infrastructure,” he said.

According to Barr, Apollo’s priorities include expanding pipeline infrastructure and investing in railways and processing facilities to enable larger volumes of commodities from Central Asia to be transported through Azerbaijan to global markets.

He also highlighted the potential of the Trans-Caspian Gas Pipeline, saying it could double or triple the volume of gas supplied to Southern Europe. Azerbaijani gas currently accounts for approximately 5% of total EU gas imports, he said, adding that this share could potentially rise to around 10%.

By Tamilla Hasanova