QatarEnergy and ExxonMobil have turned to Egypt to transport offshore gas from Cyprus to Europe, strengthening Cairo’s growing position as a strategic energy gateway between Africa, the Mediterranean and European markets amid rising uncertainty across Middle Eastern shipping routes.
The memorandum of understanding, signed with Egypt’s Ministry of Petroleum and Mineral Resources, will explore the development and commercialisation of Cypriot gas discoveries using Egypt’s liquefaction facilities and export terminals.
The agreement strengthens Cairo’s growing influence as Africa’s second-largest gas producer as Europe searches for alternatives to Russian energy supplies amid renewed instability across Middle Eastern shipping routes.
According to Euronews, the project could provide Europe with an additional gas supply route as countries continue diversifying energy sources following disruptions caused by Russia’s invasion of Ukraine.
While Cypriot gas alone is unlikely to significantly reshape Europe’s energy balance, it could strengthen supply flows from the Eastern Mediterranean.
