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QatarEnergy and PetroBangla sign 15-year LNG supply deal - CEO

June 7, 2023 at 5:51 pm

Saad Sherida Al-Kaabi, (2nd R) Qatars Minister of State for Energy Affairs, the President and CEO of QatarEnergy and Nasrul Hamid (2nd L), the state minister for Power, Energy and Mineral Resources of Bangladesh attend the signing agreement of the Long-Term LNG Sale and Purchase between QatarEnergy and Petrobangla at QatarEnergy headquarters in Doha, Qatar on 01 June 2023 [Noushad Thekkayil/NurPhoto via Getty Images]

QatarEnergy has signed a 15-year supply deal for liquefied natural gas (LNG) with Bangladesh’s state-owned PetroBangla for 1.8 million tonnes a year starting in 2026, CEO Saad Al-Kaabi said on Thursday, Reuters reports.

According to the report, the latest contract with an Asian customer by the world’s top LNG exporter comes when Western countries, including Germany, push to win a chunk of the Qatari gas, as competition ramped up following the Ukraine war.

“The majority (of LNG exports) will be going to Asia and the other will be going to Europe,” Kaabi told a news conference in Doha, referring to the two-phase North Field expansion plan.

The expansion will raise Qatar’s liquefaction capacity to 126 million tonnes per year by 2027, from 77 million currently, report added.

The report says QatarEnergy will sign LNG supply deals also with European customers, likely after the summer break.

READ: Bangladesh-Qatar sign long-term LNG deal