OQ Trading (OQT), a subsidiary of Oman state firm OQ, on 20 June signed a sales and purchase agreement (SPA) to supply Bangladeshi counterpart Petrobangla with an average of 1.3mn t/y of LNG over 10 years from January 2026. Under the new contract, Oman will send four LNG cargoes in 2026, 16 cargoes per year from 2027-2028 and 24 cargoes each year from 2029 to 2035. Oman in theory has a ten-year SPA to supply Petrobangla with 1mn t/y for 2019-29 (MEES, 11 May 2018), though according to Kpler data few if any Omani LNG cargoes have ever made it to Bangladesh. Qatar provided over 80% of Bangladesh’s 2022 LNG imports (3.64mn tons of the 4.43mn tons total), with similar volumes and market share for the first half of 2023, Kpler data show.

“The new LNG sales and purchase agreement marks a pivotal moment in the collaboration between OQT, Petrobangla and both nations,” OQT CEO Wail al-Jamali says. “This significant increase in LNG trade between OQT and Petrobangla serves as a testament to the strong partnership developed over the years,” he adds. (CONTINUED - 225 WORDS)