Muscat – Bangladesh has signed a new long-term gas supply deal with Oman to import up to 1.5mn metric tonnes of liquefied natural gas (LNG) per annum from 2026.

Petrobangla – Bangladesh’s state-owned oil and gas company – signed the ten-year LNG import deal with Oman’s OQ Trading Limited – an energy trading entity owned by OQ Group – in Dhaka on Monday.

‘Bangladesh has signed a new sales and purchase agreement with Oman to start importing an additional 0.25mn to 1.5mn metric tonnes of LNG for ten years from 2026,’ Bangladesh’s Ministry of Power, Energy and Mineral Resources tweeted.

In a press statement, OQ Group confirmed that OQ Trading will deliver between 0.25mn tonnes to 1.5mn tonnes of LNG per annum from its diverse global portfolio to Petrobangla. The agreement will give both companies increased stability and a prolonged avenue for growth.

Said al Maawali, Executive Director of OQ Trading, and Ruchira Islam, Board Secretary of Petrobangla, signed the agreement, Bangladeshi media reported.

OQ Trading has been supplying 1mn tonnes of LNG per annum to Bangladesh under an existing ten-year deal signed in 2018.

Under the new agreement, OQ Trading will supply four cargoes in 2026, 16 cargoes in 2027 and 2028 each, and 24 cargoes every year from 2029 to 2035, according to a report published in Bangladesh’s The Financial Express.

In the report, Tawfiq-e-Elahi Chowdhury, Advisor to Bangladesh Prime Minister on power, energy and mineral resources, stated that the deal will play a key role in ensuring energy security in Bangladesh. He also urged Oman to engage in gas exploration in Bangladesh.

Wail bin Zuhair al Jamali, CEO of OQ Trading, said, “The new agreement marks a pivotal moment in the collaboration between OQ Trading, Petrobangla, and both nations.”

In the last six months, several international energy firms from countries such as Japan, China and Turkey have signed long-term agreements to import LNG from the sultanate.

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