Egypt, ExxonMobil discuss activating Cyprus gas export MoU

Egypt and ExxonMobil are in talks to activate a memorandum of understanding on transporting natural gas from the company’s offshore Cyprus discoveries through the Egyptian infrastructure for liquefaction and export, the petroleum ministry said on Thursday.

Petroleum and Mineral Resources Minister Karim Badawy discussed the next steps with ExxonMobil executives, including Kenan Nariman, vice president for LNG Market Development, and Diaa Soheil, president and venture manager of ExxonMobil Egypt, during a meeting in New Alamein, according to a statement from the Petroleum Ministry.

The memorandum of understanding, signed on 20 May by Egypt, ExxonMobil, and QatarEnergy, provides a framework for assessing the transportation of the Cypriot gas discoveries made by the two energy companies to Egypt’s existing gas processing and liquefaction facilities.

During the meeting, the two sides reviewed mechanisms for activating the agreement, including the formation of joint technical committees and the preparation of technical, commercial, and regulatory studies within defined implementation timelines, as part of the evaluation process ahead of any final investment decision.

Badawy said the initiative complements Egypt’s broader strategy of processing natural gas from Eastern Mediterranean discoveries through its existing infrastructure, including the Cronos project being developed by Eni and TotalEnergies, and the Aphrodite field led by Chevron.

He said Egypt’s gas processing facilities, liquefaction plants, and large domestic market strengthen the country’s position as a competitive regional energy hub while supporting downstream industries such as fertilisers and petrochemicals.

Diaa Soheil said cooperation with Egypt’s petroleum sector had accelerated progress on joint projects and reaffirmed ExxonMobil’s interest in expanding regional natural gas developments through Egypt’s infrastructure.