QatarEnergy moved to expand its global gas and exploration portfolio with two agreements signed this month—one targeting Eastern Mediterranean gas development and another marking its first upstream entry into Uruguay.
QatarEnergy, ExxonMobil, and the Government of Egypt signed a memorandum of understanding (MoU) to study development and commercialization options for Cyprus gas discoveries using Egypt’s existing gas and LNG export infrastructure, potentially positioning Egypt as a regional hub for Eastern Mediterranean gas, the company noted in a release May 21.
His Excellency Saad Sherida Al-Kaabi, Minister of State for Energy Affairs and president and chief executive officer of QatarEnergy, said the MoU is “an important step in advancing regional energy cooperation” and unlocking long‑term gas potential across the basin.
Separately, QatarEnergy acquired stakes in three exploration blocks offshore Uruguay’s Atlantic coast from BG International Ltd., a Shell subsidiary. The company acquired 18% interest in block OFF‑4 (APA Corp. 50%, operator; Shell 32%), 30% in block OFF‑2 (Shell 70%, operator), and 30% in block OFF‑7 (Shell 40%, operator, Chevron 30%). The blocks span 11,155–18,227 sq km in water depths of 40-4,000 m. Al‑Kaabi said the acquisitions strengthen ties with Shell and broaden QatarEnergy’s South American footprint.
The moves follow another MoU earlier this month involving potential coordination with TotalEnergies, ConocoPhillips, and the Syrian Petroleum Co. on exploration offshore Syria.
