Egypt, Qatar to Boost Cooperation Through Gas Exporting Countries Forum

Egyptian Minister of Petroleum and Mineral Resources Tarek El-Molla receives Qatari Energy Minister Saad bin Sherida al-Kaabi in Cairo on Monday (Asharq Al-Awsat)
Egyptian Minister of Petroleum and Mineral Resources Tarek El-Molla receives Qatari Energy Minister Saad bin Sherida al-Kaabi in Cairo on Monday (Asharq Al-Awsat)
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Egypt, Qatar to Boost Cooperation Through Gas Exporting Countries Forum

Egyptian Minister of Petroleum and Mineral Resources Tarek El-Molla receives Qatari Energy Minister Saad bin Sherida al-Kaabi in Cairo on Monday (Asharq Al-Awsat)
Egyptian Minister of Petroleum and Mineral Resources Tarek El-Molla receives Qatari Energy Minister Saad bin Sherida al-Kaabi in Cairo on Monday (Asharq Al-Awsat)

Egypt and Qatar have agreed to bolster cooperation in the energy sector at the Gas Exporting Countries Forum (GECF) through continuous bilateral coordination.

Egyptian Minister of Petroleum and Mineral Resources Tarek El-Molla held talks on Monday with Qatari Energy Minister Saad bin Sherida al-Kaabi.

In a press statement, Molla said that there is a mutual wish to push bilateral relations “toward wider prospects amid the fraternal ties and promising opportunities”.

The meeting showcased the current projects of Qatar in Egypt whether in gas and petroleum exploration in the Red Sea and the Mediterranean Sea or in the field of petroleum refining.

It took place ahead of the 24th Ministerial Meeting of the GECF which will be held in Cairo Tuesday.

The discussions dealt with energy relations and cooperation between Qatar and Egypt.

In the meantime, the GECF Global Gas Model and Accelerated Energy Transition Scenario Workshop was held in Cairo to discuss opportunities and challenges which the gas industry faces globally.

During his inaugural speech, Molla underscored the importance of long-term cooperation among the members of the Forum.

The Forum is considered an opportunity to exchange ideas about the challenges and opportunities in the energy industry, and it provides a space for constructive dialogue, said the minister.

“Natural gas has gained great momentum as the optimal source of energy in Egypt,” he added.

The workshop was attended by some GECF ministers and Secretary-General Mohamed Hamel.



Syria Signs New 30-year Deal with French Shipping Giant CMA CGM

Syrian President Ahmed al-Sharaa (C) looks on as Joe Dakkak, the regional director of French shipping company CMA GGM, (L) and Latakia port director Ahmed Mustafa sign an agreement in Damascus on May 1, 2025. (AFP)
Syrian President Ahmed al-Sharaa (C) looks on as Joe Dakkak, the regional director of French shipping company CMA GGM, (L) and Latakia port director Ahmed Mustafa sign an agreement in Damascus on May 1, 2025. (AFP)
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Syria Signs New 30-year Deal with French Shipping Giant CMA CGM

Syrian President Ahmed al-Sharaa (C) looks on as Joe Dakkak, the regional director of French shipping company CMA GGM, (L) and Latakia port director Ahmed Mustafa sign an agreement in Damascus on May 1, 2025. (AFP)
Syrian President Ahmed al-Sharaa (C) looks on as Joe Dakkak, the regional director of French shipping company CMA GGM, (L) and Latakia port director Ahmed Mustafa sign an agreement in Damascus on May 1, 2025. (AFP)

Syria on Thursday signed a 30-year deal with French shipping and logistics group CMA CGM that includes building a new berth at Latakia port and investing another 230 million euros ($260 million) over the course of the partnership, a company official said.

Latakia port is Syria's main maritime gateway. CMA CGM began managing Latakia's container terminal in 2009, under now-ousted Syrian leader Bashar al-Assad. The contract was most recently renewed in October 2024, also under Assad, for 30 more years.

After the opposition toppled Assad in December, the new authorities began talks on an amended deal. It was signed on Thursday by officials from the company and from Syria's port authority.

"CMA CGM has signed today the concession of the port of Latakia for a 30-year contract. We are committed to modernizing and expanding the terminal to meet growing demand and strengthen supply chains in the region," Joe Dakkak, general manager at CMA CGM LEVANT, told Reuters.

Dakkak told local broadcaster Syria TV that the agreement included a 230-million-euro investment, as well as a project to build a new, deeper berth at Latakia in order to increase activity at the port.

A person familiar with the deal said CMA CGM would invest 30 million euros in the first year and the rest in the following four years. The person said the berth would be 1.5 kilometers (0.9 miles) long and 17 meters deep, with advanced infrastructure.

CMA CGM is controlled by Franco-Lebanese billionaire Rodolphe Saade and other members of his family, which has roots in Syria.

A Syrian source familiar with the negotiations had earlier told Reuters that Syrian authorities had hoped to negotiate a larger share of the revenues than the previous contract as well as a shorter timeframe for the terminal lease.