Khaberni - A report published by "Euronews" stated that Egypt has transformed into an important energy hub in the Eastern Mediterranean, playing a key role in this regard.
The report commented on the agreement between QatarEnergy and ExxonMobil with the Egyptian Ministry of Petroleum and Mineral Resources to transport the offshore Cypriot gas to Egyptian liquefaction facilities for the purpose of exporting it to Europe.
A memorandum of understanding signed on Thursday involves studying how to develop the gas discovered off the coast of Cyprus and exporting it through existing Egyptian infrastructure. The memorandum, signed by the Egyptian Minister of Petroleum Kareem Badawi, positions the state-owned Qatari energy company at the heart of broader efforts to connect the Cypriot offshore gas fields with Egyptian export facilities and European buyers.
The Qatari company stated that the agreement will explore future growth opportunities and commercial arrangements using the Egyptian gas infrastructure, which serves local consumers and international markets.
Cyprus does not have its own liquefaction facilities, meaning that the gas extracted from its offshore fields must first be transported via underwater pipelines to Egypt, where it is processed and liquefied before being shipped to European markets.
Cyprus has spent more than a decade trying to turn its offshore discoveries into commercial exports, and President Nikos Christodoulides said that the recent approvals represent a turning point that moves the country from an exploration phase to exploiting its natural gas resources.
According to "Euronews", Egypt has already secured a pivotal role in this plan. In April, partners of the Aphrodite field in Cyprus signed a 15-year agreement to sell all the natural gas extractable from the field to the Egyptian Natural Gas Holding Company, with an option to extend the agreement for an additional five years.
This agreement, along with the one signed on Thursday, highlights how Egypt has become the main gateway for Cypriot gas. It also builds on the existing partnership between QatarEnergy and ExxonMobil in Cyprus.
The companies are involved in Block 10, where the “Glaucus” field discovered in 2019, estimated to contain about 3.7 trillion cubic feet of gas, is one of the significant offshore Cypriot discoveries. A second field in the same block called “Pegasus” was discovered in 2025, and in March, the companies officially declared commercial viability for the two fields, with combined reserves estimated at about 7 trillion cubic feet.
In turn, the State Minister for Energy Affairs of Qatar and the CEO of QatarEnergy stated that the agreement represents an important step in enhancing regional cooperation in the energy sector in the Eastern Mediterranean.
This route may also be significant for Europe, which has been looking for more diverse gas sources since the war in Ukraine disrupted traditional energy flows.
Cypriot gas alone is unlikely to change the European energy balance, but it could provide an additional supply source from the Eastern Mediterranean.
The plan is still in its early stages. No final investment decision has been taken yet, and details such as infrastructure links and commercial terms have not been agreed upon.
If the target set for 2028 is achieved, it will represent the first Cypriot gas exports and a new supply route to Europe.
