Key facts
- ExxonMobil and QatarEnergy plan to start natural gas production by 2033.
- The production will be from two undersea deposits off Cyprus.
- The proposed export route involves piping gas to Egypt.
- In Egypt, the gas will be liquefied for shipment.
- The liquefied gas is intended for European markets.
ExxonMobil and QatarEnergy are planning to start natural gas production from two undersea fields located off the coast of Cyprus by the year 2033. The companies are evaluating an export strategy that would involve piping the extracted natural gas to Egypt. In Egypt, the gas would undergo liquefaction before being shipped to various destinations in Europe. This timeline and export plan are subject to the successful development of the fields and securing necessary regulatory approvals. The project represents a significant potential addition to Europe's energy supply, particularly in light of ongoing geopolitical considerations impacting energy security. Further details regarding the specific fields and the infrastructure required for the pipeline and liquefaction process are expected to be released as the project progresses.