QatarEnergy on Thursday signed an agreement to sell about 1.8 million metric tons per annum (mtpa) of liquefied natural gas (LNG) to Bangladesh with delivery starting in 2026.
The agreement between the global LNG giant’s trading arm with Bangladesh Oil, Gas and Mineral Corp. covers 15 years.
Qatar already delivers more than 3.5 million mtpa of LNG to the South Asian country, making the Gulf state Bangladesh’s largest LNG exporter, Chief Executive Saad Sherida Al-Kaabi said at the ceremony of signature in Doha.
“These supply agreements reinforce our unwavering dedication to safeguarding the energy security of valued customers like Bangladesh and providing them with the reliable energy they need for socio-economic development and prosperity,” said Al-Kaabi, who is also Minister of Qatar Energy, which he attended the ceremony. by Bangladesh’s Minister of Energy, Power and Mineral Resources, Nasrul Hamid, according to a QatarEnergy press release.
State-owned QatarEnergy said: “With this new SPA [sale and purchase agreement]QatarEnergy reaffirms its position as the LNG supplier of choice for its partners in the South Asian LNG markets.”
Qatar has been one of the world’s largest LNG exporters along with Australia, Russia and the US. It had held the top spot until Australia overtook it in 2021, when Qatar exported about 3.77 trillion cubic feet (106.8 billion cubic meters), according to BP PLC’s 2022 annual review of the energy market.
Asia-Pacific has been Qatar’s traditional market, accounting for around 2.72 trillion cubic feet (76.9 billion cubic meters) of the region’s LNG imports in 2021, according to BP data.
Key to Qatar’s LNG leadership is the 2.3-square-mile North Gas Field, discovered in 1971. The field, roughly half the country’s land area and considered the world’s largest, averages 700 million standard cubic feet in gas production, QatarEnergy says. your website.
QatarEnergy is expanding its North Gas project. On May 16, it announced that it had awarded the engineering, procurement and construction contract for the southern development of the field, which has a production capacity of 16 million mtpa.
The eastern and southern expansions will increase Qatar’s LNG production capacity to 126 million mtpa from the current 77 million mtpa, the company said in announcing the award to a joint venture of Technip Energies NV and Consolidated Contractors Co .
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