Mayer Brown advises Excelerate Energy on long-term LNG Sale and Purchase Agreement with Petrobangla

Mayer Brown advised long-term client Excelerate Energy, Inc. (Excelerate) in connection with a long-term liquefied natural gas (LNG) sale and purchase agreement with the state-owned Bangladesh Oil, Gas & Mineral Corporation (Petrobangla).

Under this agreement, Excelerate will supply 0.85 to 1.0 million tonnes of LNG per annum to Petrobangla over a term of 15 years starting from 2026. Excelerate will deliver 0.85 MTPA of LNG in 2026 and 2027 and 1 MTPA from 2028 to 2040.

Excelerate is a market leader in offering flexible LNG infrastructure and integrated LNG solutions. Excelerate developed Bangladesh’s first fully integrated LNG Floating Storage and Regasification Unit (FSRU) project, the Moheshkhali FSRU terminal, and subsequently deployed a second FSRU terminal to the Bay of Bengal. These two FSRUs have the capacity to deliver approximately 25% of Bangladesh’s natural gas supply. This long-term LNG deal marks the next step in Excelerate's plan to integrate its business in Bangladesh.

"We are delighted to have advised Excelerate Energy on this significant long-term supply agreement, which will help Bangladesh meet its growing energy needs," said partner Nick Kouvaritakis, global head of LNG at Mayer Brown.

The Singapore-based team was led by Nick Kouvaritakis and included partner Sean Prior and counsel Nick Kendrick.