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QatarEnergy, Excelerate Energy Sign 15-Year Agreement to Supply 1 MTPA of LNG to Bangladesh

By
M Ashraf Siddiqui
—
31/01/2024
in

Doha, 30 Jan 2024

QatarEnergy and Excelerate Energy (Excelerate) signed a long-term LNG 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 Qatar Energy 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, Saad Sherida
Al-Kaabi, Minister of State for Energy Affairs, President and CEO of QatarEnergy said,  'We are pleased to sign this agreement with Excelerate for the supply of upto one million ton 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 and its stride towards greater economic 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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