Petrobangla, Bangladesh’s state-owned gas company, is set to sign a long-term liquefied natural gas (LNG) supply deal with Oman Trading International, reported Reuters, citing officials at Petrobangla.
Under the new deal, from January 2026, Petrobangla will start importing an additional 0.5 million to 1.5 million metric tonnes (mmt) of LNG every year.
“They could also supply 0.25mmt late in 2025. This is good for us as getting LNG at this rate is tough. The rate is very good in the current context of global markets,” the official was quoted by the news agency as saying.
When signed, the agreement will be Petrobangla's second with Oman Trading International.
The South Asian gas company already has a ten-year deal for 1mmt of LNG annually from 2019 to 2029.
As per the current agreement, the price of LNG is set at 11.9% of the Brent crude oil three-month average price plus a fixed price of 40 cents per million British thermal units (mmBtu).
Bangladesh relies on imported LNG to generate approximately three-quarters of its electricity, the report said.
High gas costs, however, forced Bangladesh to restrict spot LNG imports and ration gas supply last year following Russia's invasion of Ukraine.
This resulted in reduced power output despite an increase in demand and led to frequent power outages.
Earlier this month, Petrobangla signed a similar deal with QatarEnergy. Starting in 2026, the company will supply 1.8mmt of LNG annually to Petrobangla for 15 years.
