Qatar Petroleum (QP) has secured a long-term liquefied natural gas supply contract for volumes destined for Bangladesh.
QP on Monday confirmed it had entered into a long-term sale and purchase agreement with Vitol for the supply of 1.25 million tonnes per annum of LNG to Vitol’s customers in the South Asian nation.
Bangladesh is becoming increasingly reliant on imported LNG to bridge its burgeoning gas demand-supply deficit against the backdrop of stagnant exploration and no new domestic production.
Under the SPA, LNG deliveries will start later this year.
Neither financial details nor the exact duration of the deal were revealed.
“We are pleased to sign this SPA with Vitol, and we look forward to commencing deliveries under the SPA to further contribute to meeting Bangladesh’s energy requirements,” commented QP chief executive Saad Sherida al Kaabi.