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LNG: Aramco Eyes Long-Term LNG Deal with Bangladesh: Platts

LNG
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Aramco aims to supply LNG to Bangladesh under a long-term contract, as confirmed by Muhammad Fouzul Kabir Khan, adviser for Bangladesh's Ministry of Power, Energy and Mineral Resources., cited by Platts.

  • Aramco has proposed this to the Energy and Mineral Resources Division, with volume and price to be negotiated.
  • Aramco plans to become a leading global LNG player and is securing US LNG offtake deals.
  • Khan recently met with top Saudi energy policymakers. Another Bangladeshi adviser, Syeda Rizwana Hasan, mentioned that Aramco agreed to supply LNG at a price below the current market rate.
  • A long-term deal with Aramco would reduce Bangladesh's reliance on the volatile spot LNG market, where prices are high.
  • Bangladesh currently imports LNG from QatarEnergy and Oman's OQ Trading under long-term deals and buys spot market LNG.
  • The country's gas supply is around 2.85 Bcf/d, including 982 mcf/d of regasified LNG, against a demand of over 4 Bcf/d.
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Aramco aims to supply LNG to Bangladesh under a long-term contract, as confirmed by Muhammad Fouzul Kabir Khan, adviser for Bangladesh's Ministry of Power, Energy and Mineral Resources., cited by Platts.

  • Aramco has proposed this to the Energy and Mineral Resources Division, with volume and price to be negotiated.
  • Aramco plans to become a leading global LNG player and is securing US LNG offtake deals.
  • Khan recently met with top Saudi energy policymakers. Another Bangladeshi adviser, Syeda Rizwana Hasan, mentioned that Aramco agreed to supply LNG at a price below the current market rate.
  • A long-term deal with Aramco would reduce Bangladesh's reliance on the volatile spot LNG market, where prices are high.
  • Bangladesh currently imports LNG from QatarEnergy and Oman's OQ Trading under long-term deals and buys spot market LNG.
  • The country's gas supply is around 2.85 Bcf/d, including 982 mcf/d of regasified LNG, against a demand of over 4 Bcf/d.