State-owned QatarEnergy and Excelerate Energy of the US have signed a long-term liquefied natural gas sale and purchase agreement for the supply of LNG from Qatar to Bangladesh.

Pursuant to the SPA, Excelerate will purchase up to 1 million tonnes per annum of LNG from QatarEnergy to be delivered to floating storage and regasification units in Bangladesh for 15 years starting in January 2026.

Excelerate will purchase 850,000 tpa of LNG in 2026 and 2027, and 1 million tpa from 2028 to 2040. Financial and other commercial terms were not disclosed.

Commenting on Monday’s SPA signing, Saad Sherida Al-Kaabi, QatarEnergy chief executive, said: “We are pleased to sign this agreement with Excelerate for the supply of up to 1 million tonnes per annum of LNG to Bangladesh.

“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.”

Qatar is the largest LNG supplier to Bangladesh and QatarEnergy added it aspires to continue being the LNG supplier of choice for partners in the South Asia LNG markets.