LNG company Excelerate Energy and QatarEnergy signed a 15-year LNG sales and purchase agreement (SPA) beginning January 2026, according to a Jan. 29 announcement.
Under the SPA, Excelerate agreed to purchase up to 1 million tonnes per anumm (mtpa) of LNG in Bangladesh from QatarEnergy on a delivered ex-ship basis.
Excelerate will purchase 0.85 mtpa of LNG in 2026- 2027 and 1 mtpa from 2028- 2040, the release stated.
“Qatar delivers approximately 10 percent of its current annual LNG production through Excelerate FSRUs [floating storage regasification unit], and we are pleased to unlock further new demand in the markets where we operate,” said Steven Kobos, president and CEO of Excelerate.
“This agreement highlights our ability to secure critical and affordable LNG volumes for our customers with increasing natural gas demand, while driving stable, long-term economic uplift on our existing infrastructure.”
Recommended Reading
Petrobras to Step Up Exploration with $7.5B in Capex, CEO Says
2024-03-26 - Petrobras CEO Jean Paul Prates said the company is considering exploration opportunities from the Equatorial margin of South America to West Africa.
Exxon Versus Chevron: The Fight for Hess’ 30% Guyana Interest
2024-03-04 - Chevron's plan to buy Hess Corp. and assume a 30% foothold in Guyana has been complicated by Exxon Mobil and CNOOC's claims that they have the right of first refusal for the interest.
Pitts: Heavyweight Battle Brewing Between US Supermajors in South America
2024-04-09 - Exxon Mobil took the first swing in defense of its right of first refusal for Hess' interest in Guyana's Stabroek Block, but Chevron isn't backing down.
E&P Highlights: Feb. 16, 2024
2024-02-19 - From the mobile offshore production unit arriving at the Nong Yao Field offshore Thailand to approval for the Castorone vessel to resume operations, below is a compilation of the latest headlines in the E&P space.
Rystad: More Deepwater Wells to be Drilled in 2024
2024-02-29 - Upstream majors dive into deeper and frontier waters while exploration budgets for 2024 remain flat.