QatarEnergy Signs 15-year LNG Supply Deal with Excelerate Energy

Monday, January 29, 2024

QatarEnergy and Excelerate Energy have signed a long-term liquefied natural gas (LNG) sale and purchase agreement (SPA) for the supply of LNG from Qatar to Bangladesh.

Pursuant to the SPA, Excelerate will purchase up to 1 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.

“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 and its stride towards greater economic development,” said Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the President and CEO of QatarEnergy.

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.

Categories: Energy LNG Middle East Industry News Activity Asia Gas

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