Argent LNG, developing a 25 million metric tons per annum (MTPA) LNG facility in Louisiana, has signed a non-binding agreement with the government of Bangladesh to supply up to 5 million metric tons of liquefied natural gas (LNG) annually, the company announced on Friday, reports Reuters.
This marks the first major U.S. LNG supply deal under President Donald Trump’s administration and reflects confidence in his pro-energy policies. Since taking office, Trump has taken steps to lift the Department of Energy’s moratorium on LNG export licenses to countries without free trade agreements with the U.S., aiming to boost U.S. LNG exports. The U.S. is currently the world’s largest LNG exporter and is set to double its capacity by 2028, according to the U.S. Energy Information Agency.
Should the Argent LNG project in Port Fourchon be completed, its cargoes could be delivered to Petrobangla, Bangladesh’s state-owned energy company, under the agreement.
"This agreement not only ensures a reliable energy supply for Bangladesh’s growing industrial base but also strengthens our strategic partnership with the United States," said Ashik Chowdhury, executive chairman of the Bangladesh Investment Development Authority.
Bangladesh, facing increasing energy demands, has been moving toward LNG, though it remains price-sensitive. In 2022, amid a surge in LNG prices following Russia's invasion of Ukraine, the country reverted to burning cheaper coal.
Bd-pratidin English/ Jisan
