QP inks deal with Vitol for LNG supply to Bangladesh

State-run Qatar Petroleum signed a long-term liquefied natural gas (LNG) sale and purchase agreement (SPA) with Vitol.

Under the agreement, Qatar Petroleum will supply 1.25 million tons per annum (MTPA) of liquefied natural gas (LNG) to Vitol’s final customers in Bangladesh.

LNG deliveries will commence later this year, Qatar Petroleum said in its statement.

Commenting on the agreement, Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the President and CEO of Qatar Petroleum said the deal with Vitol will contribute to meeting Bangladesh’s energy requirements.

Bangladesh currently imports the chilled fuel through two floating storage and regasification units (FSRUs). Both FSRU’s serving Bangladesh have been supplied by Excelerate Energy.

The FSRU Excellence is serving Petrobangla’s Moheshkhali Floating LNG project with up to 500 million standard cubic feet of gas per day (MMscf/d) of regasification capacity.

Excelerate Energy’s FSRU Summit LNG began operations at the Summit LNG Terminal in April 2019.

Located offshore Moheshkhali Island in the Bay of Bengal, the terminal is owned by Summit LNG Terminal Co Ltd. It has a send-out capacity of 500 million standard cubic feet per day (MMscf/d) of natural gas, according to Excelerate Energy.