QatarEnergy to supply one LNG cargo to Bangladesh
QatarEnergy has agreed to supply one liquefied natural gas (LNG) cargo under its initial long-term supply contract with Petrobangla. The price of the LNG cargo would be around US$13 per million British thermal unit (MMBTu), which is less than half the spot LNG price in a volatile market, a senior Petrobangla official told The Financial ...
QatarEnergy has struck a deal to supply one liquefied natural gas (LNG) cargo to Bangladesh, according to a senior official at Petrobangla. The price for this cargo is approximately US$13 per million British thermal unit (MMBtu), which is significantly lower than the current spot LNG price in a turbulent market. This agreement comes as Petrobangla requests additional LNG due to disruptions caused by the Middle East crisis and the closure of the Strait of Hormuz.
Petrobangla has extended its 'force majeure' suspension over LNG supply to Bangladesh until the first half of November, following QatarEnergy's announcement in March of ceasing its LNG production in response to the Middle East war. Despite this, QatarEnergy Trading LLC has entered into a fresh contract with Petrobangla to supply multiple LNG cargoes under the existing long-term agreement.
Bangladesh awarded three LNG cargoes to QatarEnergy Trading LLC for delivery on November 6, November 10, and November 22, with prices at JKM minus $0.02 per MMBtu. The company was previously the primary LNG supplier to Bangladesh before the US-Iran war and the subsequent Hormuz Strait disruptions. The Middle Eastern nation signed a 15-year supply deal with Petrobangla in 2023, with deliveries commencing in 2026. The initial agreement allowed QatarEnergy to supply up to 2.5 million tonnes of LNG annually.
Written by urgent.news from Hellenic Shipping News's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
