QatarEnergy, Excelerate Energy sign LNG supply agreement

QatarEnergy and U.S. Excelerate Energy signed a 15-year Liquefied natural gas (LNG) supply agreement of 1 million metric tonnes per year (mtpa) to Bangladesh, starting Jan 2026, Reuters reported on Monday.

State-owned QatarEnergy has entered into several agreements with European and Asian partners. This deal is the most recent in this series as part of its massive North Field expansion project, which is expected to increase Qatar’s LNG production from 77 mtpa to 126 mtpa by 2027.

Qatar is already one of Bangladesh’s largest LNG suppliers.

“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,” Saad al-Kaabi, QatarEnergy Chief Executive stated.

Al-Kaabi told Reuters last month that the company anticipated reaching long-term LNG supply agreements in Asia and Europe, with multiple agreements due soon.

According to QatarEnergy, Excelerate plans to purchase 850,000 mtpa of LNG in 2026 and 2027, followed by 1 mtpa from 2028 to 2040. It will be transported to Bangladeshi floating storage and regasification facilities.

Moreover, Daniel Bustos, Excelerate Energy’s executive vice president and chief commercial officer stated in September that the business was in advanced discussions to provide Bangladesh with long-term LNG supply.