Qatar ups LNG deliveries to Bangladesh

Qatar

DOHA, January 29, 2024 – QatarEnergy has signed a sale and purchase agreement with US FSRU player Excelerate Energy to deliver LNG to Bangladesh, the Qatari NOC announced on Monday.

Under the 15-year deal, around 1 million tonnes per year of LNG will be delivered to FSRU units starting in January 2026.

Excelerate Energy will purchase 850,000 tonnes per year of LNG in 2026 and ramp up to 1 million tonnes per year from 2028 to 2040.

“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,” said Saad Sherida Al-Kaabi, the minister of state for energy affairs and president and CEO of QatarEnergy.

Qatar is the largest supplier of LNG to Bangladesh.

Excelerate Energy began operations in Bangladesh in 2018 with the Moheshkhali LNG FSRU terminal. The company now has a second FSRU deployed in the Bay of Bengal.

The company’s units deliver around 25% of the country’s LNG supply.

The US FSRU player signed a contract with Bangladesh Oil, Gas & Mineral Corporation to supply LNG volumes from November 2023.

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