Egypt, Qatar sign MoU to boost LNG cooperation, energy partnership

Egypt and Qatar signed a memorandum of understanding on Sunday to strengthen cooperation in liquefied natural gas (LNG) sales, imports, and broader energy projects, the Egyptian Ministry of Petroleum said.

The MoU was signed in Doha by Egypt’s Minister of Petroleum and Mineral Resources Karim Badawy and Qatar’s Minister of State for Energy Affairs Saad bin Sherida Al Kaabi, who’s also CEO of QatarEnergy.

The agreement aims to diversify Egypt’s natural gas supply, expand LNG shipment frameworks, and support the country’s goal of becoming a regional hub for gas trading, complementing efforts to increase domestic production.

QatarEnergy currently operates in six offshore areas in the Mediterranean and plans to make new investments over the next five years, including drilling exploratory wells with leading international energy firms.

Under the MoU, Egyptian Natural Gas Holding Company (EGAS) and QatarEnergy also signed an executive mechanism to deliver a number of Qatari LNG shipments to El-Sokhna and Damietta ports.

Attribution: Amwal Al Ghad English