Petrobangla secures LNG supplies from Oman Trading
May 7, 2018
Bangladesh’s Petrobangla has signed a 10-year SPA to buy 1 MTPA of LNG from Oman Trading International. This SPA is Bangladesh’s second long-term contract, following a deal to buy 2.5 MTPA from Qatar’s RasGas over 15 years in September 2017. The purchase price has been set at around 11.9% of the three-month average of Brent crude prices plus 40 cents/MMBtu.
Petrobangla notes that the deliveries of 500,000 tons per annum under the agreement with Oman Trading to the terminal are scheduled to start by the end of May. The remaining 500,000 tons are expected to start being delivered to the terminal developed by Summit Corporation in October.
Edited from Platts and LNG World News.
