Doha: QatarEnergy signed a Memorandum of Understanding (MoU) with the Government of the Arab Republic of Egypt and ExxonMobil to explore the potential development and commercialization of gas discoveries in Cyprus through Egypt's existing gas and liquefied natural gas (LNG) export infrastructure.

According to Qatar News Agency, the MoU will enable the three parties to study future growth opportunities and flexible commercial frameworks, considering Egypt's strategic position and its gas infrastructure that serves both domestic consumers and global markets. The agreement underscores Egypt's potential as a hub for Eastern Mediterranean gas, fostering deeper integration between Egypt and Cyprus in natural gas while optimizing the use of existing infrastructure.

HE Minister of State for Energy Affairs and President and CEO of QatarEnergy, Eng. Saad bin Sherida Al Kaabi, remarked, "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." He expressed eagerness to collaborate closely with the Egyptian government and ExxonMobil to achieve the MoU's objectives for the benefit of all parties involved.

The statement emphasized that this collaboration reflects the shared intention of all parties to develop integrated and commercially sustainable energy solutions to meet growing regional demand, while enhancing connectivity between regional and international markets. The MoU is expected to strengthen Egypt's role in the Eastern Mediterranean and its ongoing commitment to advancing regional energy development through robust partnerships and infrastructure integration. It also aims to foster broader regional cooperation and contribute to supply diversification across multiple markets.