RasGas sealed a landmark 15-year LNG sales and purchase agreement with Bangladesh Oil, Gas and Mineral Corporation (Petrobangla), RasGas reported on September 25, 2017.
Qatar will supply 2.5 mln tonnes of LNG per annum to Bangladesh as part of the country's efforts to diversify its export markets.
The deliveries would be to Petrobangla’s floating storage and regasification unit (FSRU) near Moheshkhali Island in Bangladesh, marking RasGas’ 1st long term contract delivered to a FSRU.
The agreement was signed in Doha by Hamad Mubarak al-Muhannadi, CEO of RasGas, and Abdul Mansur Md Faizullah, Petrobangla chairman.
The event was attended by Energy Minister Mohamed bin Saleh al-Sada, Bangladesh State Minister Nasrul Hamid, Qatar Petroleum CEO Saad Sherida al-Kaabi, the President and Secretary of Petrobangla Syed Ashfaquzzaman.
The agreement with Petrobangla asserts RasGas’ continued commitment to ensuring energy security to its customers in Asia, as well as its position as a reliable supplier of LNG.
«Bangladesh has very ambitious growth plans and this landmark partnership between our 2 countries will support Bangladesh as it strives to achieve its 2021 and 2040 development goals,» according to al-Muhannadi.
Bangladesh Oil and Gas Corporation and Bangladesh Mineral Exploration and Development Corporation were merged into a single entity under the name Petrobangla, whose activities include exploration and exploitation of oil, gas and mineral resources.