Egypt claims that Qatar and Egypt have signed an MOU to increase LNG sales and import cooperation
Egypt’s petroleum ministry announced on Sunday that Egypt and Qatar have signed a memorandum of understanding to increase cooperation in LNG imports and sales, including conditions for supplying Qatari exports to Egypt’s Ain Sokhna and Damietta ports.
The deal includes providing Cairo with up to 24 liquefied natural gas shipments for the forthcoming summer, according to a statement from QatarEnergy.
To fulfill its expanding energy needs, Egypt, the most populous country in the Arab world, has been attempting to diversify its import sources and boost its natural gas production.
Its aspirations to become a regional supply hub were put under pressure as production started to decline in late 2022. This forced it to make plans for large imports from Israel and Cyprus in addition to expensive LNG cargoes.
According to the Joint Organizations Data Initiative, Egypt’s October gas production was 3,635 million cubic meters, down from 3,851 million cubic meters in October 2024 but slightly up from 3,525 million cubic meters in September.
In spite of the drop, Karim Badawi, Egypt’s petroleum minister, stated in a cabinet statement last week that Egypt intends to become self-sufficient in gas and oil.
