Metric sales

Bangladesh wants to import an additional 1 million metric tons of LNG from Qatar

TBS Report

March 01, 2022, 10:50 p.m.

Last modification: March 01, 2022, 10:54 p.m.

Image used for representational purposes. Photo: Collected

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Image used for representational purposes. Photo: Collected

Bangladesh wants to import an additional 1 million metric tons per annum (MTPA) of liquefied natural gas from Qatar.

Minister of State for Power, Energy and Mineral Resources, Nasrul Hamid, handed the proposal to his Qatari counterpart, Minister of State for Energy, Saad Sherida Al-Kaabi, in Doha Tuesday, according to a press release from the Department of Energy and Energy.

The Minister of State made this proposal after the plan to import LNG at low spot market prices failed. He also offered a side letter alongside the existing long-term agreement.

Bangladesh has been importing LNG from Qatar since 2018 under a memorandum of understanding signed on January 16, 2011.

Following the MoU, a 15-year LNG Sales and Purchase Agreement (SPA) was signed on September 25, 2017 to supply 1.8 to 2.5 million metric tonnes (MTPA) of LNG per year.

Petrobangla has purchased 8.424 million metric tons of LNG across 137 shipments through January 2022.

Qatar’s Minister of State for Energy, Saad Sherida Al Kabir, cordially accepted Bangladesh’s offer and ordered Qatar Gas and Qatar Energy to sit down with Petrobangla to discuss the proposed issues.

Saad Sherida Al Kabir and Nasrul Hamid led the delegations from their respective countries during the meeting. Qatar Gas CEO Sheikh Khalid Bin Khalifa Al-Thani, Executive Vice President of Qatar Energy (EVP) Jassim Al-Marzouqi, Chairman of Petrobangla Nazmul Ahsan and Managing Director of Rupantarita Prakritik Gas Company Limited (RPGCL) Javed Chowdhury were, among others, present on the occasion.