Excelerate Energy and Petrobangla sign long-term LNG SPA
Published by Jessica Casey,
Editor
LNG Industry,
Excelerate Energy, Inc. has signed a long-term LNG sale and purchase agreement (SPA) with the Bangladesh Oil, Gas & Mineral Corp. (Petrobangla). Under the SPA, Petrobangla has agreed to purchase 0.85 – 1.0 million tpy of LNG from Excelerate for a term of 15 years beginning January 2026. Excelerate will deliver 0.85 million tpy of LNG in 2026 and 2027 and 1 million tpy from 2028 – 2040.
“Bangladesh is one of the most dynamic LNG markets in the world, and Excelerate has been a key player since the country began importing LNG. Natural gas is important to Bangladesh’s economy, and we look forward to partnering with Petrobangla to help the country meet its rapidly growing energy needs,” said Steven Kobos, President and CEO of Excelerate. “Long-term LNG offtake agreements like this SPA are an essential part of our integrated growth strategy. Our ability to secure long-term SPAs is expected to result in rateable economic uplift on our existing infrastructure and meaningful val-ue creation for our shareholders.”
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/14112023/excelerate-energy-and-petrobangla-sign-long-term-lng-spa/
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