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Petrobangla to buy LNG from US company, contract signed

Thursday, 09 November 2023 | 3:24 am | 348 times

Petrobangla to buy LNG from US company, contract signed

Petrobangla signed a 15-year Sales and Purchase Agreement with Excelerate Energy, a US-based company to buy liquefied natural gas (LNG).

The deal was signed on Wednesday evening (November 8).

This American company has built floating terminals in Maheshkhali, Cox’s Bazar. They have been supplying LNG to Petrobangla since August 2018.

Under the agreement, Petrobangla has agreed to purchase 0.85 to 1.0 million tonnes per annum of LNG from Excelerate for a term of 15 years beginning January 2026. Excelerate will deliver 0.85 MTPA of LNG in 2026 and 2027 and 1 MTPA from 2028 to 2040.

Addressing a signing ceremony at a hotel in the city on Wednesday prime minister’s energy advisor Tawfiq-e-Elahi Chowdhury said if the Awami League forms the government in the next election, there will be bigger project with the United States in this sector.

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