Bangladesh's Summit Group in final talks to sign LNG deal with Petrobangla

SINGAPORE, Nov 27 (Reuters) — Bangladesh’s Summit Group is in the last stage of discussions with the government to provide the nation with supplies of liquefied natural gas (LNG), its chairman said on Monday.

“We are in discussion with the government of Bangladesh, that is Petrobangla, and the discussion is (for) about 1.5 million tonnes (per annum),” Aziz Khan told Reuters in an interview, referring to Bangladesh’s state-owned company.

He added the supply deal would be for 15 years beginning from 2026, and hopes to have it signed before Bangladesh holds its parliamentary election on Jan. 7.

“Bangladesh requires a lot of LNG as our natural gas resources are depleting and GDP growth, even under this very difficult circumstances, is about 5.6-5.7%. So LNG is of vital importance for the continuation of this growth.”

The South Asian nation has struggled with a power crisis after Russia’s invasion of Ukraine caused LNG prices