
Argent LNG, which is developing a 25 million metric tonnes per annum (MTPA) LNG facility in Louisiana, has signed a non-binding agreement with the government of Bangladesh to purchase up to 5 million metric tons of liquefied natural gas (LNG) annually, the company said in a statement on Friday.
This is the first major U.S. LNG supply deal since President Donald Trump took office on Monday, and according to the parties, reflects industry confidence in the new administration’s pro-energy policies.
Since coming to power Trump has taken executive action to end the Department of Energy’s pause on licenses to export the super-chilled gas to countries that do not have free trade agreements with the United States, as he tries to increase U.S. exports of LNG. The United States is already the largest exporter of LNG in the world and is expected to double its capacity by 2028, according to the U.S. Energy Information Agency.
If the Argent LNG project in Port Fourchon is completed, its cargoes could be sold to Petrobangla, a Bangladesh state-owned company, according to the agreement.
“This agreement not only ensures a reliable energy supply for Bangladesh’s expanding industrial base but also strengthens our strategic partnership with the United States,” said Ashik Chowdhury, executive chairman of the Bangladesh Investment Development Authority.
U.S. President Donald Trump on Thursday addressed global leaders at the World Economic Forum in Davos, Switzerland, promising his second term will forgo free market norms inside the U.S. and out.
Bangladesh has been seeking long-term solutions to its energy demands and has been trying to move toward increased use of LNG. But the country is also price sensitive and in 2022, as LNG prices spiked due to Russia’s invasion of Ukraine, it reverted to burning cheaper coal.
In this new day of US energy policy, this groundbreaking move that underscores America’s global energy leadership, the Government of Bangladesh has signed a transformative Heads of Agreement (HOA) with Louisiana-based Argent LLC to purchase up to 5 million metric tons of liquefied natural gas (LNG) annually. This landmark deal is the first major LNG offtake agreement born under President Trump’s bold “Drill, Baby, Drill” energy mandate, symbolizing the United States’ commitment to leveraging its abundant natural resources for economic prosperity and strategic alliances worldwide.
“This partnership is a testament to Louisiana’s rich history as an energy powerhouse and its growing role in LNG exports as a critical driver of global energy security. It’s another win for American energy policy, bringing high-paying jobs to Louisiana while bolstering the United States’ leadership in the global energy market.”
President Trump’s “Drill, Baby, Drill” initiative, a cornerstone of his energy independence agenda, provided the foundation for this historic agreement. By promoting the exploration and export of U.S. energy resources, the policy has not only revitalized domestic energy markets but also opened new avenues for international cooperation and trade.
Strategic Impact on U.S.-Bangladesh Relations
“This agreement not only ensures a reliable energy supply for Bangladesh’s expanding industrial base but also strengthens our strategic partnership with the United States. By embracing the principles of ‘America First’ and ‘Bangladesh First,’ this collaboration highlights a fair, balanced, and mutually beneficial approach that harnesses the strengths of both nations to drive economic growth, regional stability, and shared prosperity for our people.” Said Ashik Chowdhury, Executive Chairman of the Bangladesh Investment Development Authority (BIDA), “The sole off taker in Bangladesh is Petrobangla, a wholly state owned entity and LNG Buyer in this case has been seeking long term solutions to the ever rising demand for energy in Bangladesh.”
Bangladesh, a rising economic force in South and Southeast Asia, has placed its trust in U.S. LNG to power its industrial and commercial ambitions, enabling it to transition toward cleaner and more sustainable energy sources.
Argent LLC, highlighted the pivotal role of Port Fourchon as a hub for energy innovation and trade:
“Argent LNG is pleased to announce the signing of a Heads of Agreement (HOA) with Bangladesh, marking a significant step in strengthening energy partnerships.” said Jonathan Bass, Chairman and CEO of Argent LNG, “This agreement paves the way for the United States to supply reliable baseload energy to Bangladesh, enabling the country to expand its ability to grow. This partnership underscores our shared commitment to fostering bilateral and equitable trade, supporting supply chain securitization, and deepening ties between our two nations.”
The partnership also reinforces the U.S.’s role as a reliable supplier of clean energy, displacing higher-carbon fuels and reducing global emissions, all while advancing the Trump administration’s energy independence goals.
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