Egypt and Qatar have signed a memorandum of understanding in Doha to strengthen cooperation in the energy sector, particularly in the sale and import of liquefied natural gas (LNG), as well as other areas of energy collaboration. The agreement marks a key step toward diversifying Egypt's natural gas supply sources and expanding frameworks for securing LNG shipments.
Egypt and Qatar signed a memorandum of understanding in Doha to bolster their strategic partnership in the energy sector. The agreement was inked by Egypt's Minister of Petroleum and Mineral Resources, Karim Badawi, and Qatar's Minister of State for Energy Affairs and President and CEO of QatarEnergy, Saad bin Sherida Al Kaabi, in the presence of Egypt's Ambassador to Doha, Walid El Feqqi, and Mahmoud Abdel Hamid, Executive Managing Director of the Egyptian Natural Gas Holding Company (EGAS).
Official statements indicate that the deal helps diversify Egypt's natural gas supply sources and aligns with the country's broader strategy to ensure energy security by diversifying supplies alongside efforts to increase domestic production, maximize added value, and reinforce Egypt's role as a regional gas trading hub.
The memorandum further solidifies the bilateral energy ties. QatarEnergy's current operations in Egypt focus on the Mediterranean Sea, where the company holds stakes in six offshore exploration blocks. The firm plans to inject new investments over the next five years and drill several exploratory wells in partnership with major international energy companies.
In a related move, EGAS and QatarEnergy agreed on the terms of an executive mechanism to govern the supply of several Qatari LNG cargoes to Egypt, scheduled for delivery to the Ain Sokhna and Damietta ports under the existing agreement. The mechanism was signed on the Egyptian side by Mahmoud Abdel Hamid, Chairman of EGAS, and on the Qatari side by Abdullah Ahmed Al Husseini, Executive Vice President for Marketing at QatarEnergy.