GLNG: Bangladesh signs long-term LNG supply deal with Excelerate Energy

Bangladesh’s state-owned Petrobangla has agreed to a long-term LNG supply deal with US company Excelerate Energy, Bangladesh local media reported on October 25. According to several media reports, Bangladesh’s Cabinet Committee on Public Purchase has approved the draft LNG sales and purchase agreement (SPA) between Petrobangla and Excelerate Energy. Under the terms of the deal, Excelerate would provide 0.85mn tonnes per year of the super-chilled fuel in 2026 and 2027. Beginning in 2028, the company would provide Petrobangla with 1mn tpy of LNG until 2040.