Photo: Collected-
Metropolis Desk-
This week, Bangladesh may finalize an agreement to acquire its fourth long-term LNG supply. To sign a sales-and-purchase agreement (SPA), the government-run Petrobangla has concluded negotiations with OQ Trading, formerly known as Oman Trading International (OTI).
By 2026, this agreement will bring Bangladesh’s total LNG volume from long-term suppliers to about 5.0 MTPA (million tonnes per annum). Global LNG providers still owe approximately $220 million in unpaid invoices.
At Moheshkhali, Summit Oil and Shipping Co Ltd. was given the contract to construct the third FSRU in the nation.
Bangladesh and OQ have agreed to three long-term contracts under which Bangladesh will import LNG at a rate of up to 1.5 MTPA over ten years, until 2029.
The first agreement was signed in 2018, and the third one five years later. To satisfy future demand, Bangladesh is currently in a grave situation to secure the LNG supply.
Bangladesh will pay QatarEnergy 13.20% of the three-month Brent crude price average plus $0.50 constant/MMBtu for LNG.
The purchase price is 12.65% of the three-month average Brent crude oil price + $0.50 constant/MMBtu, and payments must be paid within 15 days of delivery.
