Excelerate Energy and Petrobangla sign long-term LNG sale and purchase agreement

Excelerate Energy, Inc. has signed a long-term liquefied natural gas (“LNG”) sale and purchase agreement (“SPA”) with the Bangladesh Oil, Gas & Mineral Corporation (“Petrobangla”), according to the company's release. Under the SPA, Petrobangla has agreed to purchase 0.85 to 1.0 million tonnes per annum (“mtpa”) of LNG from Excelerate for a term of 15 years beginning January 2026. Excelerate will deliver 0.85 MTPA of LNG in 2026 and 2027 and 1 MTPA from 2028 to 2040.

This long-term SPA represents the next phase of Excelerate’s plan to integrate its business in Bangladesh. Excelerate first opened the Bangladesh market to LNG in 2018 with the development of its integrated Moheshkhali LNG floating storage and regasification unit (“FSRU”) terminal. In the years since, the company deployed a second FSRU terminal to the Bay of Bengal and has utilized its infrastructure position to win spot LNG cargos sales into Bangladesh. Today, Excelerate’s two FSRUs in Bangladesh deliver approximately 25% of the country’s natural gas supply.
 
Excelerate Energy, Inc. is a U.S.-based LNG company located in The Woodlands, Texas. Excelerate is changing the way the world accesses cleaner forms of energy by providing integrated services along the LNG value chain with the objective of delivering rapid-to-market and reliable LNG solutions to customers. The company offers a full range of flexible regasification services from FSRUs to infrastructure development to LNG supply. Excelerate has offices in Abu Dhabi, Antwerp, Boston, Buenos Aires, Chattogram, Dhaka, Doha, Dubai, Helsinki, Manila, Rio de Janeiro, Singapore, and Washington, DC.