QatarEnergy has signed a memorandum of understanding (MoU) with the Egyptian government and ExxonMobil to study the potential development and commercialization of gas discoveries in Cyprus through Egypt’s existing gas and LNG export infrastructure.
The agreement will allow the parties to study future growth opportunities and commercial frameworks linked to Egypt’s gas infrastructure and its role as a regional energy hub in the Eastern Mediterranean.
The companies said the cooperation would support deeper integration between Egypt and Cyprus in natural gas development while optimizing the use of existing infrastructure serving domestic and export markets.
“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.
“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,” said Saad Sherida Al-Kaabi, Qatar’s Minister of State for Energy Affairs and President and CEO of QatarEnergy.
The agreement reflects a shared intention to develop integrated and commercially sustainable energy solutions to support regional gas demand and strengthen connectivity between regional and international markets, according to QatarEnergy.
The MoU is considered to reinforce Egypt’s position in the Eastern Mediterranean gas sector and could support broader regional cooperation and supply diversification across multiple markets.