Written by The Banking Post
Bangladesh is set to ramp up liquefied natural gas (LNG) imports from long-term suppliers in 2026, cutting back on expensive and volatile spot market purchases.
Petrobangla expects to import 86 cargoes under long-term sales and purchase agreements (SPAs) next year, up from 56 in 2025 — a jump of more than 53 per cent. At the same time, spot market purchases are projected to fall by over 38 per cent, from 47 cargoes this year to 29.
Officials say the shift will strengthen supply security, with additional volumes coming from new contracts signed in 2023 with QatarEnergy, Oman’s OQ Trading, and US-based Excelerate Energy.
QatarEnergy will supply up to 1.8 million tonnes per year for 15 years starting in 2026, while OQ Trading will deliver up to 1.5 MTPA over 10 years. Excelerate will supply 1.0 MTPA under a 15-year deal. Prices are tied to Brent crude, ranging between 13.20 and 13.50 per cent of the benchmark, plus a small constant.
Bangladesh already operates near full capacity at its two floating storage and regasification units (FSRUs), which together can process 1,100 mmcfd. The country imported a record 108 LNG cargoes in 2025, and Petrobangla says it could handle up to 115 annually if both units are fully utilised.
Officials noted that the new contracts — signed under the Quick Enhancement of Electricity and Energy Supply Act, which allows direct negotiations — will help meet rising demand through 2041.
As of late September, Bangladesh’s total gas output stood at 2,728 mmcfd, including 981 mmcfd from re-gasified LNG.
