Egypt, ExxonMobil and QatarEnergy are moving ahead with the implementation process for connecting ExxonMobil’s Cyprus natural gas discoveries to Egyptian infrastructure, following the recent signing of a Memorandum of Understanding (MoU).
According to a statement from Egypt’s Ministry of Petroleum, Minister of Petroleum and Mineral Resources Karim Badawi met ExxonMobil Vice President for Global LNG Market Development Kenan Nariman and ExxonMobil Egypt President Dalia El Suhail to launch the first practical steps towards implementing the agreement.
The MoU aims to maximise the use of Egypt’s natural gas infrastructure and examine the connection of discoveries made by ExxonMobil and QatarEnergy in Cyprus’ Exclusive Economic Zone (EEZ) to the Egyptian network, allowing the gas to reach international markets through Egypt’s liquefaction facilities.
Joint committees to set timetable
The Egyptian minister described the meeting as the first implementation step following the signing of the MoU, announcing that the parties had agreed to immediately activate joint working committees.
The committees will carry out technical, commercial and regulatory studies and establish specific timetables, with the aim of turning the cooperation into viable projects that generate economic benefits for Egypt, Cyprus and the companies involved.
Badawi also stressed that reaching a Final Investment Decision (FID) on the development of the discoveries would be a critical milestone and called for the process to be accelerated.
From Cronos and Aphrodite to ExxonMobil
The Egyptian minister presented the cooperation as part of a broader strategy for regional energy integration.
He said the connection of Cyprus natural gas discoveries to Egyptian infrastructure begins with the Cronos project, developed by Eni and TotalEnergies, followed by the Aphrodite field in cooperation with Chevron, and now extends to discoveries being developed by ExxonMobil and QatarEnergy in Cyprus’ EEZ.
Badawi noted that Egypt has established infrastructure for receiving, liquefying and re-exporting natural gas, as well as a large domestic market, strengthening the economic viability of regional energy projects.
ExxonMobil hails Eastern Mediterranean cooperation
ExxonMobil Egypt President Dalia El Suhail praised the level of cooperation with Egypt’s Ministry of Petroleum and EGAS, saying rapid coordination had helped overcome challenges and accelerate joint projects.
She described cooperation with Egypt’s energy sector as a “successful model of cooperation in the Eastern Mediterranean” and expressed the company’s intention to further expand its natural gas projects in the region.
Also read: GSI will end Cyprus’ energy isolation, says Greek Energy Minister
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