Qatar is positioning itself to sell liquefied natural gas to Egypt as it uses its financial firepower to cement its ties with Egypt’s new Islamist leadership in a time of unprecedented economic instability.
The world’s biggest exporter of LNG signed a joint venture with Egyptian private equity firm Citadel Capital on Thursday to build a floating LNG storage facility and re-gasification unit to deliver natural gas to Egypt.
Oil-rich Gulf states such as Saudi Arabia and the United Arab Emirates have pledged funds as they seek to define their new relationships with Cairo but Doha is taking a more proactive approach, investing directly in Egypt’s energy sector and financial services.
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