RasGas signs LNG deal with Bangladesh’s Petrobangla
September 25 2017 08:11 PM
RasGas seals 15-year deal with Petrobangla
RasGas seals 15-year deal with Petrobangla

Doha

Qatar will supply 2.5mn tonnes of liquefied natural gas (LNG) per annum to Bangladesh as part of the country's efforts to diversify its export markets.

In this regard, RasGas Company has entered into a 15-year sales and purchase agreement (SPA) with Bangladesh Oil, Gas and Mineral Corporation (Petrobangla). The deliveries would be to Petrobangla’s floating storage and regasification unit (FSRU) near Moheshkhali Island in Bangladesh, marking RasGas’ first long term contract delivered to a FSRU.
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The agreement asserts RasGas’ continued commitment to
ensuring energy security to its customers in Asia, as well as its
position as a reliable supplier of LNG

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The agreement was signed in Doha by Hamad Mubarak al-Muhannadi, chief executive of RasGas, and Abdul Mansur Md Faizullah, Petrobangla chairman.
The event was attended by Energy Minister HE Dr. Mohamed bin Saleh al-Sada, Bangladesh State Minister Nasrul Hamid, Qatar Petroleum president and chief executive 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, a cleaner, more efficient source of energy.
“Bangladesh has very ambitious growth plans and this landmark partnership between our two countries will support Bangladesh as it strives to achieve its 2021 and 2040 development goals,” according to al-Muhannadi.
Reliable access to energy plays a vital role in driving socio-economic growth, and RasGas has fulfilled its promise to safely and reliably provide this access for more than two decades, he added.
“Bangladesh has already ensured sustainable annual growth of above 7%, and we are striving to ensure energy security and a reliable supply of gas to our entrepreneurs. LNG would play a vital role in the growth of the Bangladesh economy, and we are happy to enter into this historic partnership with Qatar, a long-trusted friend,” Faizullah said.
Highlighting Qatar and Bangladesh’s strong economic, political and cultural ties, al-Sada said the SPA underscores Qatar's commitment to partnership with Bangladesh and Doha’s continued leadership in bringing clean and reliable LNG to new markets and new customers.
"This agreement enhances Qatar’s leading position as an LNG provider, and creates broader horizons of growth and development as it moves forward," al-Kaabi said.
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.

 

Last updated: September 25 2017 09:59 PM


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