DOHA: Qatar Power on Thursday signed a Memorandum of Understanding (MoU) with the Authorities of the Arab Republic of Egypt and ExxonMobil to review enabling the potential improvement and commercialization of fuel discoveries in Cyprus by way of Egypt’s current fuel and LNG export infrastructure.
The MoU permits the three signatory events to review future progress alternatives and versatile business frameworks in mild of Egypt’s place within the area and its fuel infrastructure, which serves each home shoppers and international markets.
It highlights Egypt’s role as a potential hub for Eastern Mediterranean gas, supporting deeper integration between Egypt and Cyprus within the discipline of pure fuel whereas optimizing the utilization of current infrastructure.
Talking on the event, Saad Sherida Al-Kaabi, the Minister of State for Power Affairs, the President and CEO of QatarEnergy, mentioned: “This MoU represents an essential step in advancing regional power cooperation throughout the Jap Mediterranean by way of unlocking the long-term business potential of pure fuel assets throughout that area.”
Al-Kaabi added: “We look ahead to working intently with the Authorities of Egypt and our strategic accomplice ExxonMobil to attain the aims of this MoU for the advantage of all events.”
In July 2025, ExxonMobil and QatarEnergy introduced a brand new pure fuel discovery in Cyprus’ offshore Block 10, with preliminary estimates putting in-place assets between 142 and 227 bcm.
This marked the consortium’s second vital discovery within the block, following Glaucus-1 (2019) and Glaucus-2 (2022) (Glafkos).
ExxonMobil Exploration and Manufacturing Cyprus operates the block with a 60% stake, whereas Qatar Power Worldwide E&P holds the remaining 40%.
