Excelerate Power, Inc. has signed a long-term LNG sale and buy settlement (SPA) with the Bangladesh Oil, Gasoline & Mineral Corp. (Petrobangla). Underneath the SPA, Petrobangla has agreed to buy 0.85 – 1.0 million tpy of LNG from Excelerate for a time period of 15 years starting January 2026. Excelerate will ship 0.85 million tpy of LNG in 2026 and 2027 and 1 million tpy from 2028 – 2040.
“Bangladesh is without doubt one of the most dynamic LNG markets on the planet, and Excelerate has been a key participant for the reason that nation started importing LNG. Pure gasoline is essential to Bangladesh’s financial system, and we sit up for partnering with Petrobangla to assist the nation meet its quickly rising vitality wants,” mentioned Steven Kobos, President and CEO of Excelerate. “Lengthy-term LNG offtake agreements like this SPA are a necessary a part of our built-in progress technique. Our means to safe long-term SPAs is anticipated to end in rateable financial uplift on our current infrastructure and significant val-ue creation for our shareholders.”
Learn the article on-line at: https://www.lngindustry.com/liquid-natural-gas/14112023/excelerate-energy-and-petrobangla-sign-long-term-lng-spa/