Oil and gas firm QatarEnergy signed a 15-year liquefied natural gas (LNG) sales and purchase agreement (SPA) with Texas-based peer Excelerate Energy on Monday.
Excelerate agreed to purchase about 1 million tonnes per annum (MTPA) of LNG from QatarEnergy and deliver to floating storage and regasification units in Bangladesh, said the company.
The firm also said this collaboration will be executed at the beginning of 2026, where Excelerate will purchase 0.85 MTPA of LNG in 2026 and 2027 and 1 MTPA between 2028 and 2040.
“This new agreement will further strengthen our relationship with Excelerate while also supporting the energy requirements of the People’s Republic of Bangladesh and its stride towards greater economic development,” said His Excellency Saad Sherida Al-Kaabi, Executive Chief of QatarEnergy.
“This agreement highlights our ability to secure critical and affordable LNG volumes for our customers with increasing natural gas demand while driving stable, long-term economic uplift on our existing infrastructure,” said Steven Kobos, Chief Executive Officer of Excelerate.
QatarEnergy specializes in the development of cleaner energy resources like natural gas, crude oil, LNG, gas-to-liquid products, petrochemicals, natural gas liquids, and refined products as part of the energy transition in the State of Qatar and worldwide.
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