On May 26, 2026, QatarEnergy continued to expand its overseas business layout and entered the upstream oil and gas field in Uruguay for the first time, winning three exploration block rights. At the same time, the company signed a memorandum of cooperation with the Egyptian government and ExxonMobil, planning to rely on existing facilities in Egypt to transport natural gas from Cyprus to various parts of the world. This Middle Eastern energy leader is continuously planning its global energy layout.

Layout in the South American market

On May 25th local time, QatarEnergy announced a partnership with BG International, a subsidiary of Shell, to acquire partial equity in three oil and gas exploration blocks off the coast of Uruguay.

The specific equity distribution details are for block OFF-4: Qatar Energy holds 18% of the shares, Shell holds 32%, and the operator APA Corporation holds the remaining 50% of the shares; OFF-2 block: QatarEnergy holds 30% of the shares, which are fully operated and 70% owned by Shell; OFF-7 block: Qatar Energy holds a 30% stake, Shell operates and holds a 40% stake, and Chevron holds a 30% stake. All three blocks are located in the waters off the Atlantic coast of Uruguay, with an area ranging from 11155 to 18227 square kilometers and a water depth of 40 to 4000 meters.

Saad Sherida Al Arabi, CEO of QatarEnergy and State Minister of Qatar, expressed his pleasure in deepening cooperation with strategic partner Shell. This cooperation is the company's first foray into Uruguay's upstream oil and gas business, and further expands its business scope in South America. He expressed gratitude for the support provided by the relevant departments in Uruguay and looks forward to working together with partners to achieve good results.

Open up new gas transmission channels

While expanding its business in South America, QatarEnergy has signed a MoU agreement with the Egyptian government and ExxonMobil, planning to leverage Egypt's existing natural gas and liquefied natural gas export facilities to promote the commercial exploitation and export of Cyprus' offshore natural gas resources. The core cooperation plan is to utilize Egypt's mature liquefied natural gas receiving stations and pipeline network to transport natural gas from Cyprus to the region and around the world.

QatarEnergy stated in the announcement that this cooperation aims to create a comprehensive and commercially valuable energy supply solution to meet the growing gas demand in the region, while also bringing the region closer to the international energy market. Alkabi stated that this memorandum is an important measure to deepen energy cooperation in the Eastern Mediterranean and help fully tap into the long-term commercial value of local natural gas resources. The company will work together with the Egyptian government and ExxonMobil to fully implement the cooperation content. Industry analysis suggests that this cooperation will further solidify Egypt's position as a natural gas hub in the Eastern Mediterranean, deepen oil and gas cooperation between Egypt and Cyprus, and enable efficient utilization of existing facilities.

Global Accelerated Expansion

Two new projects, Uruguay and the Eastern Mediterranean, have been launched, with less than a month's interval between Qatar Energy's joint venture with TotalEnergies, ConocoPhillips, and SPC to conduct offshore oil and gas exploration in Syria. QatarEnergy is rapidly expanding its global upstream oil and gas business from the South Atlantic, Eastern Mediterranean to the Middle East mainland. Keywords: Qatar, overseas layout, natural gas

As a major global producer of liquefied natural gas, Qatar has frequently solidified its core position in the global energy supply chain through overseas acquisitions and project collaborations in recent years. Entering Uruguay is its first foray into the upstream market in South America; Joining forces with Egypt and ExxonMobil is expected to open up a new natural gas transportation channel connecting the Eastern Mediterranean to the world.Editor/Gong Ziwei