Excelerate will purchase 0.85 mtpa of LNG in 2026- 2027 and 1 mtpa from 2028- 2040. (Source: Business Wire)
LNG company Excelerate Energy and QatarEnergy signed a 15-year LNG sales and purchase agreement (SPA) beginning January 2026, according to a Jan. 29 announcement.
Under the SPA, Excelerate agreed to purchase up to 1 million tonnes per anumm (mtpa) of LNG in Bangladesh from QatarEnergy on a delivered ex-ship basis.
Excelerate will purchase 0.85 mtpa of LNG in 2026- 2027 and 1 mtpa from 2028- 2040, the release stated.
“Qatar delivers approximately 10 percent of its current annual LNG production through Excelerate FSRUs [floating storage regasification unit], and we are pleased to unlock further new demand in the markets where we operate,” said Steven Kobos, president and CEO of Excelerate.
“This agreement highlights our ability to secure critical and affordable LNG volumes for our customers with increasing natural gas demand, while driving stable, long-term economic uplift on our existing infrastructure.”
Recommended Reading
Analyst: US NGL Market Tightens Links to Crude, NatGas Production
2024-09-02 - A boost in propane and ethane development is tied to the opening of the Matterhorn Pipeline in the Permian, evidence of the increasingly closer link between different sectors of the energy industry.
Analyst: Could Permian Gas Pipelines Fall Short of LNG Sweet Spot?
2024-09-23 - Permian Basin oil producers will be elated to see the Matterhorn Express and another planned pipeline move gas out of their way — but both will terminate east of the biggest LNG market in the world.
Kinder Morgan to Boost NatGas Capacity in Texas
2024-10-16 - Kinder Morgan said it has made FID for the Gulf Coast Express expansion and confirmed a new pipeline project to move gas to the site of future Southeast Texas LNG export facilities.
As US Ethane Production Soars to Record High, Low Prices Expected
2024-10-29 - Tied to natural gas production, which has suffered from weak demand, ethane is also headed for bearish prices, according to an analyst.
APA Curtails Natgas, NGL Output Amid Low Waha Prices
2024-10-10 - Apache parent APA Corp. curtailed more natural gas and NGL output than previously anticipated as it realized just $0.15/Mcf in the U.S.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.