Doha, May 21 (QNA) - QatarEnergy signed a Memorandum of Understanding (MoU) with the Government of the Arab Republic of Egypt and ExxonMobil, to study enabling the potential development and commercialization of gas discoveries in Cyprus through Egypt's existing gas and liquefied natural gas (LNG) export infrastructure.

QatarEnergy said in a statement on Thursday that the MoU will enable the three signatory parties to study future growth opportunities and flexible commercial frameworks in light of Egypt's position in the region and its gas infrastructure, which serves both domestic consumers and global markets.

The MoU 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 optimizing the utilization of existing infrastructure, the statement added.

On this occasion, HE Minister of State for Energy Affairs and President and CEO of QatarEnergy, Eng. Saad bin Sherida Al Kaabi, said in a statement, "This MoU represents an important step in advancing regional energy cooperation across the Eastern Mediterranean through unlocking the long-term commercial potential of natural gas resources across that region."

"We look forward to working closely with the Government of Egypt and our strategic partner ExxonMobil to achieve the objectives of this MoU for the benefit of all parties," His Excellency added.

The statement pointed out that this collaboration reflects the shared intent of all parties to developing integrated and commercially sustainable energy solutions to support growing regional demand, while enhancing connectivity between regional and international markets.

The MoU further reinforces Egypt's role in the Eastern Mediterranean and its continued commitment to advancing regional energy development through strong partnerships and infrastructure integration. It is also expected to promote broader regional cooperation and contribute to supply diversification across multiple markets. (QNA)