Plans to connect Cyprus’s natural gas fields to Egypt’s energy infrastructure are now entering the implementation phase. Following the recent signing of the relevant Memorandum of Understanding (MoU) between Egypt’s Ministry of Petroleum, ExxonMobil, and QatarEnergy, the parties involved are immediately taking the first practical steps to implement the agreement.

In this context, the Egyptian Minister of Petroleum and Mineral Resources, Karim Badawi, held a working meeting with senior executives from ExxonMobil, including Vice President of LNG Market Development, Kenan Nariman, and the President of ExxonMobil Egypt, Dia Suhaile.

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Establishment of Joint Committees and Timelines

During the meeting, it was decided to immediately establish and activate joint technical, commercial, and regulatory committees. The task of these committees will be to establish clear timelines and conduct the necessary studies, so that the cooperation can be transformed into sustainable projects that will generate economic added value for Cyprus, Egypt, and the partner companies.

At the same time, Mr. Badawi emphasized that reaching the Final Investment Decision (FID) is a pivotal milestone for the development of the discoveries, calling for the acceleration of the necessary procedures.

Egypt’s Role as a Regional Energy Hub

The Egyptian minister noted that the agreement with the ExxonMobil-QatarEnergy consortium is part of a broader strategy for regional energy integration in the Eastern Mediterranean. This model already includes connecting the Cypriot “Kronos” (Eni / TotalEnergies) and “Aphrodite” (Chevron) fields to the Egyptian network.

As he emphasized, Egypt’s advanced infrastructure for receiving, liquefying, and re-exporting natural gas, combined with its large domestic market, ensure the economic viability of the projects and bolster value-added industries such as fertilizers and petrochemicals.

ExxonMobil: “A Model of Cooperation in the Eastern Mediterranean”

For his part, Dia Suhail praised the direct coordination with the Egyptian Ministry of Petroleum and EGAS, noting that effective cooperation made it possible to overcome the initial challenges. He even described this partnership as a successful model of regional cooperation and expressed ExxonMobil’s readiness to further expand its activities in the region.

Finally, Mr. Badawi extended an invitation to company executives to participate in the Mediterranean Offshore Conference (MOC), scheduled for October, with the aim of showcasing Egypt’s LNG infrastructure and exploring new investment opportunities.