ExxonMobil and QatarEnergy Advance Cypriot Gas Project with Joint Technical Committees
The partnership between ExxonMobil and QatarEnergy has taken a significant step forward in their plans to connect ExxonMobil's Cypriot gas fields to Egypt's liquefied natural gas (LNG) export infrastructure. A meeting on August 6 in New Alamein saw the two parties agree to establish joint technical committees, which will oversee the necessary studies for the project.
The development comes after a memorandum of understanding was signed in late May by Egypt's Ministry of Petroleum and Mineral Resources, ExxonMobil, and QatarEnergy. The MoU aims to evaluate the commercialization of ExxonMobil's Glaucus and Pegasus fields in Block 10 offshore Cyprus, with the gas being routed to Egypt's existing processing and LNG export facilities for re-export.
Badawi framed the collaboration as part of a series of regional tie-back arrangements anchored by Egypt's LNG infrastructure. He cited the Cronos project developed with Eni and TotalEnergies, and the Aphrodite project with Chevron, which involves a 15-year agreement for Egypt to receive, process, and export Cypriot gas.
Badawi said that these projects represent a model for regional energy integration that strengthens energy security across the Eastern Mediterranean. He also invited ExxonMobil's leadership to participate in the Mediterranean Offshore Conference scheduled for October.