QatarEnergy announced on May 21 that it has signed a Memorandum of Understanding with the Government of the Arab Republic of Egypt and ExxonMobil. The agreement will focus on studying ways to enable potential development and commercialization of gas discoveries in Cyprus using Egypt’s existing gas and liquefied natural gas export infrastructure.
The move is significant as it aims to strengthen regional energy cooperation in the Eastern Mediterranean, utilizing established infrastructure to serve both domestic needs and global markets. The collaboration could position Egypt as a hub for Eastern Mediterranean gas, supporting further integration between Egypt and Cyprus in the natural gas sector.
His Excellency Saad Sherida Al-Kaabi, Minister of State for Energy Affairs and President & CEO of QatarEnergy, said: “This MoU represents an important step in advancing regional energy cooperation across the Eastern Mediterranean through unlocking the long-term commercial potential of natural gas resources across that region.”
Al-Kaabi also said: “We look forward to working closely with the Government of Egypt and our strategic partner ExxonMobil to achieve the objectives of this MoU for the benefit of all parties.”
According to QatarEnergy, this partnership demonstrates a shared commitment by all parties involved toward developing integrated and commercially sustainable energy solutions. It is intended to help meet growing regional demand while enhancing connections between local markets and international destinations.
The agreement further highlights Egypt’s ongoing role in promoting regional energy development through partnerships and infrastructure integration. It is expected that such efforts will encourage broader cooperation throughout the region while contributing to supply diversification across multiple markets.
