Finance
Qatar-Bangladesh Bangladesh requests Qatar to reduce LNG prices
Dhaka, October 6: State Minister for Power, Energy and Mineral Resources, Nasrul Hamid, has urged Qatar to reconsider and reduce the price of Liquefied Natural Gas exported to Bangladesh in the current situation due to coronavirus. He made the request during an online courtesy call to Qatar's Minister of State for Energy, Saad Sherida Al-Kaabi, on Monday (October 5).
Referring to Qatar as one of the friendly countries, Hamid said, "Bangladesh's trade with Qatar can be further enhanced. There are many more areas of cooperation in the energy sector that both countries will benefit from exploring."
Al-Kaabi thanked Hamid and said, "Qatar wants to work in Bangladesh in other energy sectors, including LNG."
Petrobangla has signed an agreement to import LNG from Qatar.
The agreement was signed with Qatar's Ras Gas on July 18 in Dhaka.
According to the agreement, RasGas will supply 2.5 million tons of LNG to Bangladesh every year for 15 years. Its price will be determined according to the price of crude oil in the international market.
Thus, both the parties have agreed on a formula for fixing prices.
