DOHA: Qatar Energy on Thursday signed a Memorandum of Understanding (MoU) with the Government of the Arab Republic of Egypt and ExxonMobil to study enabling the potential development and commercialization of gas discoveries in Cyprus through Egypt’s existing gas and LNG export infrastructure.
The MoU enables the three signatory parties to study future growth opportunities and flexible commercial frameworks in light of Egypt’s position in the region and its gas infrastructure, which serves both domestic consumers and global markets.
It highlights Egypt’s role as a potential hub for Eastern Mediterranean gas, supporting deeper integration between Egypt and Cyprus in the field of natural gas while optimizing the utilization of existing infrastructure.
Speaking on the occasion, Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the President and CEO of QatarEnergy, said: “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.”
Al-Kaabi added: “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.”
In July 2025, ExxonMobil and QatarEnergy announced a new natural gas discovery in Cyprus’s offshore Block 10, with preliminary estimates placing in-place resources between 142 and 227 bcm.
This marked the consortium’s second significant discovery in the block, following Glaucus-1 (2019) and Glaucus-2 (2022) (Glafkos).
ExxonMobil Exploration and Production Cyprus operates the block with a 60% stake, while Qatar Energy International E&P holds the remaining 40%.
