Egypt, Qatar sign MoU to boost LNG sales and import cooperation
Egypt and Qatar signed a memorandum of understanding (MoU) to boost cooperation in LNG sales and imports, including terms for supplying Qatari shipments to Egypt's Ain Sokhna and Damietta ports, Egypt's petroleum ministry said on Sunday.
QatarEnergy said in a statement that the agreement includes supplying Cairo with up to 24 liquefied natural gas cargoes for the upcoming summer.
Egypt, the Arab world's most populous nation, has been trying to increase its own gas production and diversify import sources to meet its growing energy needs.
Production began declining in late 2022, putting pressure on its ambitions to become a regional supply hub, and forcing it to plan for significant imports from Israel and Cyprus, along with costly LNG cargoes.
Egypt produced 3,635 MMm3 in October last year, up slightly from 3,525 MMm3 in September but down from 3,851 MMm3 in October 2024, according to the Joint Organizations Data Initiative.
Despite the decline, Egypt's petroleum minister Karim Badawi said last week that Egypt plans to achieve self-sufficiency in oil and gas, according to a cabinet statement.
Related News
Related News
- Cheniere signs deal with Bechtel to expand U.S. LNG export capacity
- TC Energy approves $1.5-B Columbia Gas expansion after profit tops estimates
- Wärtsilä continues to expand its data center footprint with new 790 MW order in Texas
- Baker Hughes’ fuel flexible NovaLT™ 16 gas turbine certified by RINA for marine propulsion
- U.S. natural gas exports to grow nearly 30% by 2027 as LNG facilities ramp up
Comments