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Tribune News Network
DOHA
RasGas Company Limited (RasGas) has sealed a landmark 15-year liquefied natural gas (LNG) sales and purchase agreement (SPA) with Bangladesh Oil, Gas and Mineral Corporation (Petrobangla).
According to the deal, RasGas will supply 2.5 million tonnes of LNG per annum for 15 years, to Petrobangla's floating storage and regasification unit (FSRU), located near Moheshkhali Island, Bangladesh, a press release said on Monday. The deal also marks RasGas' first long-term contract delivery to FSRU.
The agreement was signed in Doha by Hamad Mubarak al Muhannadi, CEO of RasGas, and Abdul Mansur Md Faizullah, Petrobangla Chairman.
The event was attended by Minister of Energy and Industry HE Dr Mohammed bin Saleh al Sada, Bangladesh State Minister for Power, Energy and Mineral Resources Nasrul Hamid Nasrul Hamid, President and CEO of Qatar Petroleum Saad Sherida al Kaabi, and Syed Ashfaquzzaman, Secretary of Petrobangla.
The agreement with Petrobangla asserts RasGas' continued commitment to ensuring energy security to its customers in Asia, as well as its position as a reliable supplier of LNG, a cleaner and more efficient source of energy, the statement added.
Hailing Qatar and Bangladesh's strong economic, political and cultural ties, Sada said,"The deal underscores our commitment to our partnership with Bangladesh, and highlights Qatar's continued leadership in bringing clean and reliable LNG to new markets and new customers."
Muhannadi said,"Reliable access to energy plays a vital role in driving socio-economic growth, and RasGas has fulfilled our promise to safely and reliably provide this access for more than two decades."
"Bangladesh has very ambitious growth plans and this landmark partnership between our two countries will support Bangladesh as it strives to achieve its 2021 and 2040 development goals," he added.
Faizullah said,"Bangladesh has already ensured sustainable annual growth of above 7 percent, and we are striving to ensure energy security and a reliable supply of gas our entrepreneurs.
"LNG would play a vital role in the growth of the Bangladesh economy, and we are happy to enter into this historic partnership with Qatar, a long-trusted friend."
Kaabi said,"We are pleased to see Bangladesh join the list of countries that benefit from Qatari gas to support their economic growth and development by using the most environment-friendly fossil fuel, and we look forward to working with them to secure Bangladesh's future needs."
"This agreement enhances Qatar's leading position as an LNG provider, and creates broader horizons of growth and development," he added.
