Excelerate And QatarEnergy Seal 15-Year LNG Pact For Bangladesh's Energy Surge
Portfolio Pulse from Lekha Gupta
Excelerate Energy Inc (NYSE:EE) has signed a 15-year LNG sale and purchase agreement with QatarEnergy to supply up to one million tons per annum of LNG to Bangladesh starting January 2026. The deal involves deliveries to floating storage and regasification units in Bangladesh, with volumes starting at 0.85 MTPA in 2026 and 2027, increasing to one MTPA from 2028 to 2040. This agreement follows a similar deal made with Petrobangla in November for the same time period. Excelerate's Q4 and full year 2023 results are expected on February 28, 2024. EE shares saw a slight increase of 0.52% to close at $15.54 on Friday.
January 29, 2024 | 10:40 am
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POSITIVE IMPACT
Excelerate Energy Inc's new 15-year LNG supply agreement with QatarEnergy is expected to provide a stable long-term revenue stream, starting in 2026. The deal may positively influence investor sentiment, as it demonstrates the company's ability to secure significant international contracts.
The signing of a long-term agreement is typically viewed positively by the market as it ensures future revenue and strengthens business relationships. The deal with QatarEnergy is substantial and aligns with Excelerate's strategic growth, which could lead to increased investor confidence and potentially a rise in stock price in the short term.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100