Qatar Petroleum enters into LNG supply deal with Bangladesh

Doha, Qatar - Qatar Petroleum entered into a long term sale and purchase agreement (SPA) with Vitol for the supply of 1.25mn tonnes per annum (MTPA) of liquefied natural gas (LNG) to Vitol’s final customers in Bangladesh.

Under the agreement, LNG deliveries will commence later this year, further demonstrating Qatar’s continued commitment to meeting the growing needs of its customers for reliable LNG supplies, according to a press statement posted on the Qatar Petroleum website.

Saad Sherida al Kaabi, the Minister of State for Energy Affairs, the president and CEO of Qatar Petroleum, welcomed the signing of the agreement and said, “We are pleased to sign this SPA with Vitol, and we look forward to commencing deliveries under the SPA to further contribute to meeting Bangladesh’s energy requirements.”

Kaabi concluded his remarks by saying, “This SPA also highlights our strong ability to meet the requirements of our partners and customers. We are proud to continue to be the supplier of choice for our customers and partners around the globe.”

Earlier this month, Qatar Petroleum announced its decision to build the first phase of the North Field East (NFE) project, in what the company said was the world’s largest LNG project ever in terms of capacity.

Qatar, the world’s largest LNG supplier, aims to expand its LNG production from the North Field, which is the world’s single largest non-associated offshore natural gas field.

The project will also raise the country’s LNG production capacity from 77mn tonnes annually to 110mn tonnes. In addition to LNG, the project will produce condensate, LPG, ethane, sulphur and helium.