QatarEnergy will sign a long-term LNG supply deal with Bangladesh’s state-owned gas company Petrobangla on Thursday, Reuters reported.
This marks the second Asian sales deal to be sealed for Qatar’s North Field expansion project.
The 15-year agreement is for the supply of 2 million tonnes annually, Petrobangla’s Chairman Zanendra Nath Sarker told Reuters.
Supplies are set to start in January 2026, he said.
The agreement will be one of many to come this year as state-owned QatarEnergy secures sales for its mega expansion of North Field, a source with direct knowledge of the new contract agreement, who did not wish to be identified, said.
Qatar is the world’s top LNG exporter and competition for LNG has ramped up since the start of the Ukraine war, with Europe in particular needing vast amounts to help replace Russian pipeline gas that used to make up almost 40% of the continent’s imports.
But Asia, with an appetite for long-term sales and purchase agreements, has been ahead so far in securing gas from Qatar’s massive production expansion project.
The two-phase expansion plan will raise Qatar’s liquefaction capacity to 126 million tonnes per year by 2027 from 77 million.
Qatar’s first Asian deal, with Sinopec, the longest to be signed at 27 years for the supply of 4 million tonnes a year, was followed by the state-owned Chinese company taking a 5% stake in the equivalent of one North Field East LNG train.
