Qatarenergy, Excelerate Energy Sign 15-Year LNG Supply Agreement For Bangladesh

2024-01-29 02:44:58

(MENAFN- The Peninsula) The Peninsula

Doha, Qatar: QatarEnergy and Excelerate Energy (Excelerate) signed a long-term sale and purchase agreement (SPA) for the supply of LNG from Qatar to Bangladesh.

Pursuant to the SPA, Excelerate will purchase up to one million tons per annum (MTPA) of LNG from QatarEnergy to be delivered to floating storage and regasification units in Bangladesh for 15 years starting in January 2026.

Excelerate will purchase 0.85 MTPA of LNG in 2026 and 2027, and one MTPA from 2028 to 2040.

Commenting on this occasion, His Excellency Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the President and CEO of QatarEnergy, said:“We are pleased to sign this agreement with Excelerate for the supply of up to one million tons per annum of LNG to Bangladesh. This new agreement will further strengthen our relationship with Excelerate while also supporting the energy requirements of the People's Republic of Bangladesh andits stride towards greatereconomic development.”

Qatar is the largest LNG supplier to Bangladesh and aspires to continue being the LNG supplier of choice for partners in the South Asia LNG markets.

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