Excelerate Energy secures LNG supply deal with Bangladesh’s Petrobangla

In a significant move for the natural gas sector, Excelerate Energy, Inc. has inked a 15-year sale and purchase agreement (SPA) with the Bangladesh Oil, Gas & Mineral Corporation, known as Petrobangla. Starting January 2026, this deal will see the delivery of up to 1.0 million tonnes per annum (MTPA) of liquefied natural gas (LNG) to Bangladesh, a nation experiencing a surge in energy demands.

Bangladesh’s Economic Growth Fueled by Long-Term LNG Offtake

The agreement, which commences with an initial delivery of 0.85 MTPA of LNG in the first two years, ascending to 1 MTPA for the remainder of the term, is a testament to Excelerate’s strategic growth and its commitment to the burgeoning LNG market in Bangladesh. Excelerate’s President and CEO, Steven Kobos, emphasized the deal’s alignment with their integrated growth strategy, aiming to deliver consistent economic benefits and shareholder value.

Expansion and Integration: Excelerate’s Continued Commitment to Bangladesh’s LNG Infrastructure

Excelerate Energy has been a pioneer in the Bangladeshi LNG space since 2018, marking its presence with the innovative Moheshkhali LNG floating storage and regasification unit (FSRU) terminal. With this latest agreement, the company fortifies its ongoing plan to expand and integrate its operations in the region. Currently, Excelerate’s dual FSRU terminals supply approximately a quarter of Bangladesh’s natural gas, solidifying its role as a key energy provider.

Excelerate Energy bags LNG supply deal with Bangladesh’s Petrobangla

Excelerate Energy Enhances Bangladesh’s Energy Capabilities with New LNG Contract

The SPA represents more than just an energy supply contract; it’s a strategic partnership aimed at supporting Bangladesh’s dynamic energy needs while fostering Excelerate’s global LNG ambitions.

Excelerate Energy and Petrobangla Sign Landmark LNG Agreement

With this deal, Excelerate Energy and Petrobangla are setting a new benchmark for long-term energy collaborations, signaling a robust future for LNG market integrations.