Minister of Petroleum and Mineral Resources Karim Badawi met with ExxonMobil executives for talks on the start of the implementation steps for a recently signed memorandum of understanding between the Petroleum Ministry, ExxonMobil and QatarEnergy aimed at maximizing the use of Egypt's natural gas infrastructure.
Badawi met with Kenan Nariman, Vice President of ExxonMobil LNG Market Development, and Diaa Soheil, Vice President and Venture Operations Manager at ExxonMobil Egypt Upstream Limited. In a statement released on Thursday, August 6, 2026, the Petroleum Ministry said the memorandum seeks to assess linking Cypriot gas discoveries made by ExxonMobil and QatarEnergy to Egypt's gas infrastructure for liquefaction and re-export.
Badawi said that the meeting marked the first implementation step following the signing of the agreement, adding that the parties agreed to swiftly launch joint committees and establish clear technical, commercial and regulatory work programs and timelines to turn the cooperation into concrete projects generating added value and economic returns for Egypt, Cyprus and the partners.
He stated that reaching a final investment decision on developing the discoveries would be a key milestone, requiring accelerated efforts to move the projects forward. The Minister highlighted the importance of connecting Cypriot gas discoveries to Egypt's infrastructure, from the Cronos project with Eni and TotalEnergies, to the Aphrodite project with Chevron, and the planned cooperation with ExxonMobil and QatarEnergy, as it offers a model for regional integration to strengthen energy security in the eastern Mediterranean.
He indicated Egypt's advanced gas reception, liquefaction and export infrastructure, combined with its large and growing domestic market, enhances the economic viability of regional cooperation projects, while supporting value-added industries, particularly fertilizers and petrochemicals.
For his part, Soheil praised cooperation with the Petroleum Ministry and the Egyptian Natural Gas Holding Company (EGAS), saying rapid coordination had helped overcome challenges and accelerate joint work. He described the partnership with Egypt's petroleum sector as a successful model for cooperation in the eastern Mediterranean and expressed hope for expanding gas projects and maximizing the use of the region's resources and Egypt's infrastructure.
Badawi also invited ExxonMobil executives to participate in the Mediterranean Offshore Conference (MOC), scheduled for October, to showcase Egypt's liquefied natural gas infrastructure and explore new opportunities for cooperation and investment. List of government, foreign universities and institutes accredited in Egypt The Inauguration of the State Strategic Command Headquarters “The Octagon” in the New Capital