Qatar’s presence in eastern Mediterranean benefits Egypt, Turkey
Qatar is enhancing its presence in the eastern Mediterranean that is rich in oil and gas reserves at a time when tensions are ripping through the region over the maritime borders and excavation rights.
Andrew Swiger, senior vice-president of Exxon (L) shakes hand with Saad Sherida Al-Kaabi, president and CEO of Qatar Petroleum after signing an agreement, Doha, Qatar, June 3, 2018. - Stringer/AFP via Getty Images
Qatar has strengthened its presence in the eastern Mediterranean, which is rich in oil and gas reserves, at a time when tensions are high in the region over maritime borders and exploration rights.
Qatar Energy, owned by the Qatari government, and the US giant ExxonMobil signed a contract Dec. 10 with Cyprus for oil and gas exploration and production sharing in Block 5 off the coast of the divided island of Cyprus.
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