Qatar offers shorter,cheaper LNG contracts to entice Asian buyers amid US competition

Qatar offers shorter,cheaper LNG contracts to entice Asian buyers amid US competition

Qatar is offering shorter and cheaper liquefied natural gas contracts as it attempts to secure customers for supply from expansion projects amid rising competition with the US.

A deal agreed last week between the world’s top LNG exporter and Bangladesh included more lenient payment deadlines than typically offered, according to people with knowledge of the matter.

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The supplier is aiming to be more accommodating of the needs of customers, particularly emerging nations in Asia, that struggle with high energy costs or are unable to commit to long-term agreements, said the people, who spoke on condition of anonymity as the details are private.

QatarEnergy, which signed the deal with Bangladesh, didn’t respond to a request for comment. Bangladesh’s power and energy ministry didn’t immediately respond to requests for comment.

The nation is building the world’s biggest LNG expansion project, which aims to boost output by more than 60 percent through 2027, but has so far only signed long-term deals for a fraction of that supply. It’s seeking buyers at the same time that US exporters have also been lifting production and cementing a flurry of pacts with some of the industry’s most