Qatar to sign 15-year deal with Bangladesh to export LNG

Qatar plans to sign a 15-year deal with Bangladesh to export liquefied natural gas (LNG) starting from 2018 as Bangladesh intends to fill a domestic gap for power generation supply, local media reported Thursday.

According to the agreement, which will be signed on Sept. 25, Qatar's RasGas will provide to Bangladesh an annual of 1.8 million tonnes of LNG for the first five years and 2.5 million tonnes a year for the remaining 10 years.

The deal is considered as the first LNG import deal of Bangladesh, and the deal underscores the rise of South Asia as a new market for fuel, according to Qatari media.

South Asia is emerging as a market of potential for LNG, with Pakistan and Bangladesh set to join India as major consumers. Bangladesh is planning to invest heavily in fuel imports.

(ASIA PACIFIC DAILY)