The government on Monday signed a 15-year agreement to purchase liquefied natural gas (LNG) from US-based Excelerate Energy.
According to the agreement, the natural gas distribution company will supply 1.0 million tonnes of LNG per year to floating storage and regasification units in Bangladesh from January 2026, reports Reuters.
Under the deal, Petrobangla will purchase 0.85 to 1.0 million tonnes per annum (‘mtpa’) of LNG from the US-based company for a term of 15 years, according to UNB report published on November 08, 2023.
Excelerate will deliver 0.85 MTPA of LNG in 2026 and 2027, and 1.0 MTPA from 2028 to 2040, said the report.
Excelerate first opened in Bangladesh LNG market in 2018 with the development of its integrated Moheshkhali LNG floating storage and regasification unit (FSRU) terminal.
In the years since, the company deployed a second FSRU terminal to the Bay of Bengal and has utilised its infrastructure position to win spot LNG cargoes sales in Bangladesh.
