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Oil & Gas

Bangladesh signs new long-term LNG supply deal with Oman

Bangladesh state-owned Petrobangla has signed a new long-term liquefied natural gas supply deal with Oman’s OQ Trading for up to 1.5 million tonnes per annum of LNG from 2026.

Under the new government-to-government deal, state-owned OQ will supply at least four LNG cargoes to Bangladesh starting in 2026, further increasing supplies to 16 cargoes in both 2027 and 2028, and 24 cargoes per year from 2029 to 2035.

The OQ-Petrobangla agreement marks the second long-term LNG deal between the two state-owned players.

The Omani company has been supplying 1 million tpa of LNG to Bangladesh through a 10-year deal signed in 2018.

The fresh LNG deal involves gas supplies ranging from 0.25 million tpa to up to 1.5 million tpa, gradually scaling up volumes to be delivered from 2026 until 2035.

Tawfiq-e-Elahi Chowdhury, advisor for power, energy and mineral resources to Bangladesh’s prime minister said the new LNG deal would play a key role in ensuring energy security in Bangladesh.

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Qatar LNG deals

QatarEnergy earlier this month signed a second LNG supply deal with Petrobangla for the long-term supply of about 1.8 million tpa to Bangladesh for 15 years, starting in 2026.

Qatar currently delivers more than 3.5 million tpa of LNG to Bangladesh.

Bangladesh has two operational floating LNG terminals, each with capacity of 6.5 million tpa, operational in Moheshkhali.

A third floating LNG terminal at Cox’s Bazar is on the cards and has recently secured approval from the government of Bangladesh.

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