QatarEnergy, ExxonMobil sign deal with Egypt to study Cyprus gas development

QatarEnergy said on Thursday it had signed a preliminary deal with ExxonMobil (XOM.N), opens new tab and Egypt's ​government to study the development and commercialisation ‌of gas discoveries in Cyprus using Egypt's existing gas and LNG infrastructure.

The memorandum of understanding "highlights Egypt’s role as a ​potential hub for Eastern Mediterranean gas, supporting ​deeper integration between Egypt and Cyprus in the ⁠field of natural gas while optimising the ​utilisation of existing infrastructure", QatarEnergy said in a statement.