Egypt and Qatar have signed a memorandum of understanding to strengthen cooperation in liquefied natural gas (LNG) sales and imports, Egypt’s petroleum ministry said on Sunday.
Egypt expands LNG deals © Mena Today
Egypt and Qatar have signed a memorandum of understanding to strengthen cooperation in liquefied natural gas (LNG) sales and imports, Egypt’s petroleum ministry said on Sunday.
Under the agreement, Qatari LNG shipments will be supplied to Egypt through the Ain Sokhna and Damietta ports, helping Cairo secure fuel supplies ahead of the peak summer demand period. QatarEnergy said the deal includes the delivery of up to 24 LNG cargoes to Egypt over the coming months.
The agreement comes as Egypt, the Arab world’s most populous nation, works to boost domestic gas production while diversifying its import sources to meet rising energy consumption.
Gas output has been under pressure since late 2022, complicating Egypt’s ambitions to position itself as a regional energy hub. The production decline has forced the country to plan for increased imports from Israel and Cyprus, alongside more expensive spot LNG cargoes.
According to data from the Joint Organizations Data Initiative, Egypt produced 3,635 million cubic meters of natural gas in October last year, slightly up from 3,525 million cubic meters in September, but still below the 3,851 million cubic meters recorded in October 2024.
Despite the challenges, Petroleum Minister Karim Badawi said last week that Egypt remains committed to achieving self-sufficiency in oil and gas, according to a cabinet statement.
Iran's Foreign Minister Abbas Araqchi called Thursday for "vigilance and coordination" among regional countries to counter what he described as "destabilising and escalatory actions" by the United States and Israel, in separate phone calls with his counterparts in Turkey, Egypt and Pakista
Iranian aerial attacks since Wednesday have caused extensive damage to the world's largest gas plant in Qatar, targeted a refinery in Saudi Arabia, forced the UAE to shut gas facilities and set off fires at two Kuwaiti refineries.
Iran's huge Pars gas field was hit on Wednesday in a major escalation in the U.S.-Israeli war that sent oil prices shooting higher, and Tehran struck Qatar and fired missiles at Saudi Arabia after vowing attacks on oil and gas targets throughout the Gulf.
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