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QatarEnergy and ExxonMobil have signed a memorandum of understanding with the Egyptian Ministry of Petroleum to transport Cypriot gas to Egyptian liquefaction facilities, enhancing Egypt's status as a major energy hub in the Eastern Mediterranean.
Qatar Energy has announced the gradual resumption of liquefied natural gas production after a prolonged halt, reflecting the company's efforts to restore its activity in this vital sector. The move comes at a critical time for global markets that increasingly rely on natural gas as a source of energy.
The Israeli attack on the South Pars field and targeting of Ras Laffan has immediate effects on natural gas prices, as Ras Laffan accounts for <strong>20%</strong> of global supplies.