QatarEnergy and US-based Excelerate Energy have signed a 15-year agreement for the supply of liquefied natural gas (LNG) to Bangladesh starting in January 2026.
Under the terms of the sale and purchase agreement (SPA), Excelerate will buy 850,000 mtpa of LNG in 2026 and 2027, then 1 mtpa from 2028 to 2040. It will be shipped to floating storage and regasification units in Bangladesh.
“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 and the President and CEO of QatarEnergy.
The deal is the latest in a series of state-owned deals QatarEnergy has with European and Asian partners tied to its massive North Field expansion project, which is expected to lift Qatar’s LNG production to 126 mtpa by 2027 from 77 mtpa now, according to Reuters.
Qatar is the largest LNG supplier to Bangladesh and aspires to continue being the LNG supplier of choice for partners in the South Asian LNG markets, noted QatarEnergy.
