Petrobangla, Gunvor sign LNG supply MoU

Petrobangla, Gunvor sign LNG supply MoU

Bangladesh’s Petrobangla on Tuesday signed a non-binding memorandum of understanding with Gunvor’s Singapore unit for the supply of liquefied natural gas from 2018. 

The two companies will finalize details of the commercial agreement at a later date, Petrobangla informed in its statement.

This is the fifth MoU the state-run Petrobangla has signed to secure the supply of LNG in attempts to cover a shortfall of domestic natural gas.

Bangladesh’s two terminals, one being developed by Excelerate Energy and the other by Summit LNG to be located at Moheshkhali Island in the Bay of Bengal are set to be commissioned by April 2018 and the Summit terminal by October 2018, respectively.

Both FSRUs have a 3.75 million tons of LNG per year capacity.

The government intends to secure the supply by purchasing LNG on long-term, short-term and spot basis. With the memorandum of understanding with Gunvor, the Swiss trading company, Petrobangla intends to look into LNG trading opportunities, according to the statement.

With the memorandum of understanding with Gunvor, the Swiss trading company, Petrobangla intends to look into LNG trading opportunities, according to the statement.

Share this article

Follow LNG World News

Events>

<< Feb 2020 >>
MTWTFSS
27 28 29 30 31 1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 1

FSRU World Congress 2020

FSRU World Congress 2020 will therefore focus on further Commercialising FSRUs through LNG-to-Power…

read more >

LNG Pricing, Trading & Hedging: 3-Day Training Course – Houston / Feb 2020

This three-day training program provides a unique opportunity to learn and apply the practical skills, knowledge and tools needed to:…

read more >

LNG Pricing, Trading & Hedging: 3-Day Training Course – London / Mar 2020

This three-day training program provides a unique opportunity to learn and apply the practical skills…

read more >

3rd CWC Japan LNG & Gas Summit

As the only commercially focused forum for the Japanese LNG industry

read more >