Dhaka, Dec. 23 -- US-based Excelerate Energy is set to begin supplying liquefied natural gas (LNG) to Bangladesh from early January under a long-term contract, providing a fresh boost to the country's strained natural gas-supply system.

"We will start purchasing LNG from the US company from January under a sales and purchase agreement (SPA) signed a couple of years ago," a senior Petrobangla official told The Financial Express on Monday.

Under the SPA, signed in November 2023, Excelerate Energy will supply up to 1.0 million tonnes per year (MTPA) of LNG to state-run Petrobangla, the official said.

Bangladesh will import LNG from Excelerate Energy for 15 years from 2026 onward, with deliveries structured in phases. The US firm will supp...