QatarEnergy, ExxonMobil sign MoU with Egypt for Cyprus gas

Cyprus

DOHA, May 22, 2026 – QatarEnergy and ExxonMobil have signed an MoU with the Government of Egypt to study the potential development and commercialisation of gas discoveries in Cyprus, QatarEnergy announced on Thursday.

Under the terms of the MoU, the parties will explore future growth opportunities that would optimise Egypt’s underutilised gas and LNG production assets, as well as commercial frameworks utilising Egyptian gas infrastructure serving both domestic consumers and global markets.

“This MoU represents an important step in advancing regional energy co-operation across the Eastern Mediterranean through unlocking the long-term commercial potential of natural gas resources across that region,” QatarEnergy president and CEO Saad Sherida Al Kaabi said.

Egypt’s LNG export infrastructure and regional gas links are central to both companies’ efforts to commercialise Eastern Mediterranean gas resources.

QatarEnergy has been expanding its offshore Egypt portfolio, including through a 40% interest in the North Rafah exploration block and a stake in the North Cleopatra block. The US-Israeli war on Iran has severely impacted the company’s operations, with Iranian attacks in March damaging two of its LNG trains, and the closure of the Strait of Hormuz constraining its LNG exports.

Read our latest insights on:

• Egypt

Previous

BW Energy greenlights projects offshore Brazil and Gabon

Next

Weatherford selected for Nigeria deepwater work