Petrobangla, RasGas formalize LNG supply deal

Bangladesh’s state-owned Petrobangla firmed up its agreement with Qatar’s RasGas on Monday. 

Under the finalized 15-year agreement, RasGas will deliver 2.5 million tons of liquefied natural gas (LNG) to Petrobangla’s floating storage and regasification unit (FSRU) near Moheshkhali Island in Bangladesh.

Petrobangla’s chairman Abdul Mansur Faizullah, said that the country is aiming to secure energy supply for the industry as it pushes for annual growth of above 7 percent in which LNG is to play an important role.

Bangladesh currently has two terminals under development, one by Excelerate Energy and the other by Summit LNG to be located at Moheshkhali Island in the Bay of Bengal. The terminal being developed by Excelerate is set to be commissioned by April 2018 and the Summit terminal by October 2018, respectively.

Both FSRUs have a 3.75 million tons of LNG per year capacity.

LNG World News Staff