Bangladesh keen to import 1 million metric tonnes more LNG from Qatar

Originally posted in The Business Standard on 01 March 2022

Picture used on representational purpose. Photo: Collected

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

State Minister for Power, Energy and Mineral Resources Nasrul Hamid gave the proposal to his counterpart Qatar’s State Minister for Energy Saad Sherida Al-Kaabi, in Doha on Tuesday, read a power and energy ministry press release.

The state minister made the proposal after the plan to import low-priced LNG from the spot market failed. He also proposed a side letter agreement along with the existing long term agreement.

Bangladesh has been importing LNG from Qatar since 2018 under a Memorandum of Understanding (MoU) signed on 16 January in 2011.

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

Petrobangla has purchased 8.424 million metric tons of LNG through 137 cargoes till January 2022.

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

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