In a move reflecting strengthened economic ties between Egypt and Qatar, Egypt’s Ministry of Petroleum and Mineral Resources announced the signing of long-term contracts with Qatar for the supply of natural gas, aimed at securing the needs of the domestic market and supporting the stability of energy supplies in the country.
The official announcement came during a visit by Egypt’s Minister of Petroleum and Mineral Resources, Eng. Karim Badawi, to Doha, where he held a series of meetings with senior Qatari energy sector officials, led by Eng. Saad Sherida Al-Kaabi, Qatar’s Minister of State for Energy Affairs and CEO of QatarEnergy.
The ministry’s statement affirmed that these agreements represent a strategic development in bilateral energy relations, aligning with Egypt’s efforts to secure diverse and sustainable fuel sources to meet the growing energy demand across various productive and service sectors.
The meeting between the two ministers explored prospects for enhancing cooperation in gas exploration and research, particularly in concession areas operated by QatarEnergy within Egypt. The Qatari company is a key member of Egypt’s Upstream Gateway (EUG), a national digital platform launched to encourage investment in the energy sector.
The discussions reviewed the status of drilling and exploration in several significant projects involving QatarEnergy in collaboration with ExxonMobil, such as the Nefertari, Cairo, Masry, and North Marakia wells in the Mediterranean, which are considered promising areas for new discoveries.
Minister Al-Kaabi expressed Qatar’s interest in expanding QatarEnergy’s presence in the Egyptian market through additional exploration investments, referencing a recent agreement with EGAS and Chevron that granted QatarEnergy a share of exploration commitments in the North Dabaa offshore area, enhancing Qatar’s presence in one of the most significant new exploration zones.
The two sides also discussed ways to strengthen regional cooperation within the Gas Exporting Countries Forum (GECF), which includes both Egypt and Qatar. They emphasized the importance of coordinated efforts among member states on priority issues, particularly amid geopolitical changes affecting the global energy market.
The GECF, headquartered in Doha, represents a significant bloc in international markets, with member countries collectively holding about 70% of global natural gas reserves.
These agreements come as Egypt works to enhance its energy security and diversify its fuel sources, as part of a comprehensive plan to stimulate economic growth, reduce reliance on traditional sources, and open the door to foreign investment in the energy sector.
