QatarEnergy has signed a Memorandum of Understanding (MoU) with the Government of the Arab Republic of Egypt and ExxonMobil, a US-based multinational oil and gas corporation.
The agreement aims to evaluate potential development and commercialization opportunities for gas discoveries in Cyprus using Egypt’s existing gas and liquefied natural gas (LNG) export infrastructure.
According to QatarEnergy, the agreement will enable the three parties to assess future growth opportunities and explore flexible commercial frameworks, taking into account Egypt’s strategic position in the region and its established gas infrastructure serving both domestic and international markets.
The MoU underscores Egypt’s role as a potential regional hub for Eastern Mediterranean gas, with a focus on strengthening integration between Egypt and Cyprus in natural gas development while optimizing the use of existing infrastructure assets.
HE Eng. Saad bin Sherida Al Kaabi, Minister of State for Energy Affairs and President and CEO of QatarEnergy, said that, “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.”
The agreement reflects the shared intention of the parties to develop integrated and commercially sustainable energy solutions aimed at meeting growing regional demand while enhancing connectivity between regional and global energy markets.
It further reinforces Egypt’s position in the Eastern Mediterranean energy landscape and its ongoing efforts to expand regional energy cooperation through infrastructure integration and strategic partnerships.
The MoU is also expected to support supply diversification and strengthen broader collaboration across energy markets in the region.
