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QatarEnergy and US-based Excelerate Energy signed a 15-year deal to provide Bangladesh with 1 million metric tonnes per year (MTPA) of liquefied natural gas (LNG) starting in January 2026.
The agreement is the most recent in a string of agreements state-owned QatarEnergy has with Asian and European partners related to its enormous North Field expansion project, which is anticipated to increase Qatar's current 77 MTPA of LNG production to 126 MTPA by 2027.
Qatar, one of the world's leading LNG exporters, is already Bangladesh's major supplier of LNG. It considers natural gas a transition fuel that will be required well into the future.
"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," QatarEnergy Chief Executive Saad al-Kaabi said in the statement. QatarEnergy is expected to agree on long-term LNG supply deals in Asia and Europe, with several imminent.
QatarEnergy said Excelerate will buy 850,000 MTPA of LNG in 2026 and 2027 and 1 MTPA from 2028 to 2040. The LNG will be shipped to floating storage and regasification units in Bangladesh.
Daniel Bustos, Excelerate Energy's executive vice president and chief commercial officer, said in September the company was in advanced talks to supply long-term LNG to Bangladesh.
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