QatarEnergy, Excelerate ink long-term deal to supply LNG to Bangladesh

State-owned LNG giant QatarEnergy has signed a long-term contract with US FSRU player Excelerate Energy to supply Bangladesh with liquefied natural gas.

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

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

Qatar’s energy minister and chief executive of QatarEnergy, Saad Sherida Al-Kaabi, said this new agreement “will further strengthen our relationship with Excelerate while also supporting the energy requirements of Bangladesh and its stride towards greater economic development.”

Qatar is already the largest LNG supplier to Bangladesh and QatarEnergy is significantly increasing its LNG production from the North Field.

This first phase of the North Field expansion project will increase Qatar’s LNG production capacity from 77 to 110 Mtpa, while the second phase will further boost capacity to 126 Mtpa.

On the other hand, Excelerate Energy signed in November last year a 15-year LNG supply deal with Bangladesh’s state-owned Petrobangla.

Under the SPA, Petrobangla has agreed to purchase 0.85 to 1 Mtpa of LNG from Excelerate beginning in January 2026.

Excelerate will deliver 0.85 Mtpa of LNG in 2026 and 2027 and 1 Mtpa from 2028 to 2040.

Bangladesh currently imports LNG via its first LNG import facility, Moheshkhali Floating LNG or MLNG, operated by Petrobangla, and via Summit Group’s FSRU-based terminal.

Both of these facilities feature Excelerate’s FSRUs and the US firm is also developing the Payra project in Bangladesh.

In addition to providing the FSRUs, Excelerate has also provided spot LNG cargoes to the country and this SPA represents the next phase of Excelerate’s plan to integrate its business in Bangladesh, the firm previously said.

Most Popular

Venture Global’s Plaquemines LNG to commission fourth tank

US LNG exporter Venture Global LNG has received approval from the US FERC to commission the fourth storage tank with LNG at its Plaquemines plant in Louisiana.

Worley gets full notice to proceed on first phase of CP2 LNG project

Australian engineering firm Worley has received a full notice to proceed from US LNG exporter Venture Global LNG under its reimbursable EPC contract for the first phase of the CP2 LNG project in Louisiana.

US FERC issues final SEIS for NextDecade’s Rio Grande LNG project

The US Federal Energy Regulatory Commission (FERC) has released a final supplemental environmental impact statement for NextDecade's Rio Grande LNG facility and the accompanying pipeline in Texas. FERC continues to conclude that approval of the projects would result in "less than significant impacts."

More News Like This

Excelerate raises 2025 guidance after Jamaica deal

US FSRU player Excelerate Energy raised its full-year 2025 adjusted Ebitda guidance range following the recent acquisition of New Fortress Energy's business in Jamaica.

Bangladesh’s RPGCL launches fresh spot LNG cargo tender

Bangladesh's Rupantarita Prakritik Gas (RPGCL), a unit of state-owned Petrobangla, has issued a new tender for two spot liquefied natural gas (LNG) cargoes.

Knutsen takes delivery of QatarEnergy LNG carrier

Norwegian shipowner Knutsen has taken delivery of another 174,000-cbm liquefied natural gas (LNG) carrier built as part of the massive QatarEnergy shipbuilding program.

RPGCL seeks three spot LNG shipments

Bangladesh's Rupantarita Prakritik Gas (RPGCL), a unit of state-owned Petrobangla, has issued a new tender for three spot liquefied natural gas (LNG) cargoes.