Energy cooperation agreement signed in Egypt
A new memorandum of cooperation has been signed between Egypt’s Ministry of Petroleum and Mineral Resources, ExxonMobil and Qatar Energy, aiming to strengthen regional energy collaboration and maximise the use of Egypt’s natural gas infrastructure, including potential links involving Cyprus gas deal developments.
The agreement was signed in the presence of Egyptian Prime Minister Mostafa Madbouly at the government headquarters in the New Administrative Capital.
Focus on LNG infrastructure and Cyprus link
According to the Egyptian Cabinet, the memorandum provides for cooperation to optimise Egypt’s liquefied natural gas (LNG) facilities and explore the possibility of connecting them with Cypriot natural gas discoveries, further advancing the Cyprus gas deal framework under discussion in the region.
The initiative is also part of Egypt’s broader strategy to strengthen its role as a regional hub for natural gas trade and distribution in the Eastern Mediterranean.
Role of international energy companies
The memorandum was signed by senior representatives from the Egyptian Ministry of Petroleum, ExxonMobil’s LNG market development division, and Qatar Energy’s international exploration and production sector.
Officials said the gas deal discussions reflect growing coordination between companies operating in both Cyprus and Egypt, creating potential for new investment and infrastructure integration.
Strategic regional energy hub
Egyptian Prime Minister Mostafa Madbouly said cooperation with leading global energy companies supports the country’s strategy to improve returns from its energy infrastructure, highlighting its competitive advantage in LNG processing and re-export.
Oil Minister Karim Badawi said recent discussions with ExxonMobil focused on using Egyptian infrastructure to monetise discoveries in Cyprus, including fields such as “Kronos” and “Aphrodite”.
He added that Egypt remains open to expanding cooperation with Cyprus and international energy firms to accelerate development and reduce production costs.
Eastern Mediterranean energy prospects
The agreement highlights ongoing efforts to integrate Eastern Mediterranean gas resources, with Egypt positioning itself as a key processing and export hub while advancing potential gas opportunities.
Also read: Cyprus gas profits may favour companies over the country
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