QatarEnergy will sign a long-term liquefied natural gas (LNG) supply deal with Bangladesh's state-owned gas company Petrobangla on Thursday, the second Asian sales deal to be sealed for Qatar's North Field expansion project.
The 15-year agreement is for the supply of 2 million tonnes annually, Petrobangla's Chairman Zanendra Nath Sarker told Reuters.The agreement will be one of many to come this year as state-owned QatarEnergy secures sales for its mega expansion of North Field, a source with direct knowledge of the new contract agreement, who did not wish to be identified, said.
This will be Bangladesh's second long-term deal with Qatar as it desperately looks for long-term LNG deals at a cheaper rate after prices spiked following the Ukraine war last year. Qatar's first Asian deal, with Sinopec, the longest to be signed at 27 years for the supply of 4 million tonnes a year, was followed by the state-owned Chinese company taking a 5% stake in the equivalent of one North Field East LNG train.with around 2 million tonnes of LNG annually through a partnership with ConocoPhillips cover at least a 15-year period.Bangladesh has a 10-year LNG import deal with Oman Trading International. That LNG is priced at 11.
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