Photo: Excelerate Energy's FSRU Excellence moored offshore Moheshkhali Island in the Bay of Bengal; Courtesy of Excelerate Energy

Bangladesh to purchase 3.36m MMBtu LNG from Excelerate Energy

The government of Bangladesh plans to buy 3.36 million metric million British thermal units (MMBtu) of LNG from US-based Excelerate Energy.

Excelerate Energy to sell LNG to Bangladesh
Excelerate Energy’s FSRU Excellence moored offshore Moheshkhali Island in the Bay of Bengal; Courtesy of Excelerate Energy

The liquefied natural gas (LNG) will be bought by Petrobangla, the government-owned national oil company of Bangladesh.

The price is $13.42 per MMBtu.

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This is double the price compared to two months ago when Bangladesh bought the same amount of LNG from Swiss trader AOT Energy, due to Asian spot prices climbing.

The price of the latest batch is the highest for Bangladesh after it began importing liquefied natural gas, reports local media.

Texas-based LNG company Excelerate Energy has been present in Bangladesh since 2018 when it commissioned Bangladesh’s first LNG import facility, the Moheshkhali Floating LNG terminal.

Excelerate currently has two FSRUs located offshore in the Bay of Bengal, Excellence and Summit LNG.