Texas-based Excelerate Energy has inked a momentous 15-year liquefied natural gas sales and purchase agreement with QatarEnergy, marking a significant stride in supporting energy requirements in Bangladesh.
Under the agreement, announced today, Excelerate Energy will procure up to one million tonnes per annum of LNG from QatarEnergy. LNG deliveries are slated to commence in January 2026, with Excelerate purchasing 0.85 million tonnes per annum of LNG in 2026 and 2027, and one million tonnes per annum from 2028 to 2040.
Steven Kobos, President and CEO of Excelerate Energy, hailed the supply agreement with QatarEnergy, the world’s largest LNG supplier, as a groundbreaking achievement. He stated, “Qatar delivers approximately 10 Percent of its current annual LNG production through Excelerate FSRUs, and we are pleased to unlock further new demand in the markets where we operate.”
Kobos continued, “This agreement highlights our ability to secure critical and affordable LNG volumes for our customers with increasing natural gas demand while driving stable, long-term economic uplift on our existing infrastructure.”
Excelerate Energy has established a robust presence in Bangladesh’s LNG market, having developed and currently operating Bangladesh’s maiden floating LNG terminal, the Moheshkhali floating LNG terminal. Boasting regasification capacity of up to 500 million standard cubic feet of gas per day, the project is a testament to Excelerate Energy’s commitment to bolstering energy infrastructure in Bangladesh.
The Moheshkhali floating LNG terminal is a collaborative effort between Excelerate Energy, Petrobangla, and the International Finance Corporation (IFC), mandated to provide and arrange the necessary financing for the terminal.
Excelerate Energy’s engagement in Bangladesh’s LNG market not only addresses the country’s immediate energy needs but also aligns with its longer-term sustainability objectives, contributing to a more resilient and environmentally conscious energy landscape.
For more information visit excelerateenergy.com
