Bangladesh signed a landmark 15-year agreement with Qatar to get supply of 1.5 MTPA Liquefied Natural Gas (LNG) from the country.
State Minister of Power, Energy and Mineral Resources Nasrul Hamid said this at the signing ceremony in Doha, the capital of Qatar.
Petrobangla Chairman Zanendra Nath Sarker and Abdulla Ahmad Ai-Hussaini, executive vice president of Qatar Energy, signed the agreement on behalf of Bangladesh and Qatar.
This landmark agreement has been possible thanks to Prime Minister Sheikh Hasina’s dynamic diplomacy and farsighted vision, Nasrul Hamid said.
As the fastest-growing economy in the world, Bangladesh's demand for gas and electricity is increasing, said the minister.
"The demand for additional fuel is increasing to make the country's industries and economy more dynamic. Efforts are underway to supply the necessary fuel on time," he said.
Thanking the government of Qatar, the minister said a joint initiative between the countries has added a new dimension to the friendly relations between the two countries.
This long-term agreement is extremely beneficial for Bangladesh at this time of global fuel instability, he said.
Saad bin Sherida Al-Kaabi, Minister of Energy and Industry of Qatar, said, "We are honoured to be the largest LNG supplier to Bangladesh."
The annual supply of 3.5 million tonnes of LNG will contribute to the overall development of Bangladesh, including its socio-economic conditions, Saad said.
It should be noted that the first agreement with Ras Laffan Liquefied Natural Gas Company Ltd. (Qatargas) in Qatar was made on September 25, 2017.
This 15-year agreement (from 2018 to 2033) allows for the supply of 1.8–2.5 MTPA LNG (currently 2.5 MTPA, 40 cargoes) from Qatar.
Both agreements have been made through the G-to-G process with Qatar.
Among others, Energy Secretary Dr. Md. Khayrul Jaman Majumder was present on the occasion.