Oman Trading International Limited (OTI) has agreed a ten-year deal with state-run Bangladeshi oil company Petrobangla for the supply of liquefied natural gas (LNG) to Bangladesh, the Times of Oman reported.

OTI will supply a base volume of one million metric tons per year after the Moheshkhali Island floating LNG import terminal has been completed.

“This marks an important milestone in the relationship between Oman and Bangladesh. OTI supplies other petroleum products to Bangladesh and we are pleased to sign this strategic long-term supply agreement. We also look forward to expanding our footprint in Bangladesh’s growing market,” said OTI CEO Talal al Awfi.

OTI opened its LNG trading wing in 2016, adding gas to its repertoire of trading crude, petroleum products and chemicals.