Egypt and Qatar have signed a new agreement to strengthen cooperation in liquefied natural gas sales and imports, officials said Sunday. The memorandum of understanding sets out terms for supplying Qatari LNG cargoes to Egypt’s Ain Sokhna and Damietta ports.
QatarEnergy said the deal includes delivering up to 24 liquefied natural gas shipments to Egypt during the upcoming summer. The agreement comes as Egypt seeks to secure energy supplies amid rising domestic demand and tightening regional gas markets.
Egypt, the Arab world’s most populous country, is working to boost production while diversifying import sources to stabilise supplies. Natural gas output began declining in late 2022, undermining Cairo’s ambition to become a regional energy supply hub.
The production slowdown has forced Egypt to plan increased imports from Israel and Cyprus, alongside costly LNG purchases. Official data showed Egypt produced 3,635 million cubic metres of gas in October, slightly above September but below year-earlier levels. Despite the challenges, Petroleum Minister Karim Badawi said Egypt aims to achieve self-sufficiency in oil and gas production.