Literacy Technology

Oman, Bangladesh sign 10-year LNG deal

MUSCAT, Oman Trading International (OTI), owned by the Oman Oil Company (OOC), on Sunday signed a 10-year deal to sell liquefied natural gas (LNG) to Bangladesh’s state-owned Petrobangla.

OTI will supply Petrobangla with 1 million tons of LNG annually once Bangladesh completes building its first two LNG import plants, currently under-construction.

In a press statement, OTI’s CEO Talal Al Awfi stressed the significance of the long-term deal, describing it as a “landmark” in the friendly relations between the two countries.

He voiced expectations OTI would expand in Bangladesh through offering oil products.

Established in 2006, OTI trades oil, petroleum products and petrochemicals through its extensive global trading and marketing network.

Source: Kuwait News Agency