Egypt and Qatar have signed a memorandum of understanding to strengthen cooperation on liquefied natural gas sales and imports, including arrangements to supply Qatari LNG shipments to Egypt’s Ain Sokhna and Damietta ports, Egypt’s petroleum ministry said on Sunday, according to Reuters.
QatarEnergy said in a separate statement that the agreement includes supplying Cairo with up to 24 liquefied natural gas cargoes during the upcoming summer.
Egypt, the most populous country in the Arab world, has been working to raise domestic gas production and diversify its sources of imports to meet rising energy demand.
However, gas output began to decline in late 2022, putting pressure on Egypt’s goal of becoming a regional energy supply hub and forcing it to plan for large imports from Israel and Cyprus, alongside costly LNG cargoes.
Don’t Miss This:
Egypt And Qatar Discuss Activating $7.5 Billion ‘partnership Package’, Egypt Says
According to data from the Joint Organizations Data Initiative, Egypt produced 3,635 million cubic meters of gas in October last year, slightly higher than the 3,525 million cubic meters produced in September, but lower than the 3,851 million cubic meters recorded in October 2024.
Despite the decline in production, Egypt’s petroleum minister Karim Badawi said last week that the country plans to achieve self-sufficiency in oil and gas, according to a cabinet statement.
Don’t Miss This:
Egypt And Qatar’s Al Mana Holding Sign $200 Million Deal To Produce Sustainable Aviation Fuel
Image Credit: Business Recorder
