DOHA/CAIRO, Jan 5 (NNN-QNA/MENA) – Qatar will supply up to 24 liquefied natural gas (LNG) shipments to Egypt, in the summer of this year, under a memorandum of understanding (MoU) signed yesterday, state-owned petroleum company, QatarEnergy, said.
In a statement, the company said, the MoU between QatarEnergy and Egypt’s Ministry of Petroleum and Mineral Resources, paves the way for more cooperation in the energy sector, including the long-term supply of LNG to Egypt.
QatarEnergy will deliver the LNG shipments to the Egyptian ports of Sokhna and Damietta, the Egyptian ministry said, adding, the MoU aligns with the country’s strategies to diversify supply mechanisms and secure domestic needs.
QatarEnergy, which currently operates in six Mediterranean offshore blocks in Egypt, plans to inject new investments over the next five years in Egypt, and drill several exploratory wells in collaboration with major international energy firms, the ministry added.
In recent years, Egypt has sought to increase its oil and gas production and diversify its import sources to meet rising domestic demand. In Aug last year, Egyptian Prime Minister, Mostafa Madbouly said, Egypt’s natural gas production stands at 4.1 billion cubic feet per day, and is expected to rise to 6.6 billion cubic feet per day by 2027.– NNN-QNA/MENA