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
Tech Trends: Safety, Speed, Savings: Automation is Transforming Drilling
2024-03-26 - Drilling is getting smarter through automation, delivering efficiency, consistency and reliability.
Axis Energy Deploys Fully Electric Well Service Rig
2024-03-13 - Axis Energy Services’ EPIC RIG has the ability to run on grid power for reduced emissions and increased fuel flexibility.
AI Advancing Underwater, Reducing Human Risk
2024-03-25 - Experts at CERAWeek by S&P Global detail the changes AI has made in the subsea robotics space while reducing the amount of human effort and safety hazards offshore.
Exclusive: Halliburton’s Frac Automation Roadmap
2024-03-06 - In this Hart Energy Exclusive, Halliburton’s William Ruhle describes the challenges and future of automating frac jobs.
Exclusive: Cost-effective Benefits of Extracting from Mature Assets
2024-05-13 - Baker Hughes' well abandonment leader Bart Joppe details the importance of extracting resources from mature assets and the company's approach to managing a well, in this Hart Energy Exclusive interview.