Doha, September 25 (QNA) - RasGas Company Limited (RasGas) sealed a landmark 15-year liquefied natural gas (LNG) sales and purchase agreement (SPA) with Bangladesh Bangladesh Oil and Gas Corporation (Petrobangla).

The agreement was signed in Doha by RasGas CEO Hamad Mubarak Al Muhannadi and Petrobangla Chairman Abdul Mansur Md Faizullah. The event was attended by HE Minister of Energy and Industry Dr. Mohammed bin Saleh Al Sada and HE Bangladesh State Minister Nasrul Hamid.

During the event, Al Muhannadi outlined the size and duration of the agreement, which will see the Qatari energy giant supply 2.5 million tons of LNG per annum to Petrobangla for 15 years. Deliveries will be to Petrobangla's floating storage and regasification unit (FSRU) near Moheshkhali Island in Bangladesh, marking RasGas' first long term contract delivered to a FSRU.

The agreement with Petrobangla asserts Qatar's continued commitment to ensuring energy security to its customers in Asia, as well as its position as a reliable supplier of LNG, a cleaner, more efficient source of energy.

HE the minister of energy and industry highlighted Qatar and Bangladesh's strong economic, political and cultural ties saying the SPA "underscores our commitment to our partnership with Bangladesh, and highlights Qatar's continued leadership in bringing clean and reliable LNG to new markets and new customers." "We are very pleased to see the Republic of Bangladesh join the list of countries that benefit from Qatari gas to support their economic growth and development by using the most environmentally friendly fossil fuel," Qatar Petroleum President and CEO Saad Sherida Al Kaabi said.

"I would like to thank Petrobangla for their confidence in Qatar, and we look forward to working with them to secure Bangladesh's future needs. This agreement enhances Qatar's leading position as an LNG provider, and creates broader horizons of growth and development," he added.

For his part, Al Muhannadi highlighted the importance of having a reliable access to energy, saying that it "plays a vital role in driving socio-economic growth, and RasGas has fulfilled our promise to safely and reliably provide this access for more than two decades." In turn, Faizullah said his company strives to "ensure energy security and a reliable supply of gas to our entrepreneurs. LNG would play a vital role in the growth of the Bangladesh economy, and we are happy to enter into this historic partnership with Qatar, a long-trusted friend." (QNA)