The United States and Bangladesh Sign Historic LNG Agreement

The United States-based Argent LNG has signed a heads of agreement (HOA) with the Government of Bangladesh for the purchase of liquefied natural gas (LNG) from the former’s proposed export facility in Port Fourchon, Louisiana.

The deal entails the purchase of up to 5 million metric tons annually (mtpa) of LNG by the Southern Asian country. The agreement is seen as historic by the Bangladeshi government, with the Trump administration’s energy mandate playing a crucial role in enabling this partnership.

“Petrobangla has been seeking long-term solutions to the rising demand for energy in Bangladesh. 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 Bangladesh Investment Development Authority (BIDA).

The agreement was signed at the Bangladesh Embassy in Washington, D.C. on January 24, 2025, with Jonathan Bass, Chairman and CEO of Argent LNG, and Ashik Chowdhury representing their respective parties.

“Argent LNG is pleased to announce the signing of a Heads of Agreement (HOA) with Bangladesh, marking a significant step in strengthening energy partnerships. 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,” said Bass.

Also present at the signing was Chett Chiasson, Executive Director of the Greater Lafourche Port Commission (GLPC), which oversees Port Fourchon. Chiasson described the partnership as a testament to Louisiana’s history as an “energy powerhouse” and its growing role in LNG exports as a driver of global energy security.

Project Overview

In 2024, Argent LNG secured a long-term exclusive lease with the Port of Fourchon to build a sustainable LNG facility. The project will include LNG liquefaction trains with a capacity of 10 mtpa in the initial phase, with plans to expand to 20 mtpa in subsequent phases. Operations are scheduled to commence in 2029/2030.

The facility will be powered by wind energy, aligning with Argent LNG’s focus on environmental sustainability. The company aims to distribute LNG to markets across four continents, leveraging its strategic location near major shale gas plays.

About 90% of Argent’s LNG production capacity will be secured through long-term agreements, ensuring stable cash flows. The remaining volumes will be sold on the spot market to capitalize on market opportunities.

Worley will develop the site layouts and assist with regulatory processes, while construction services will be provided by Kiewit. Cooling and liquefaction services will be supplied by Hudson Air Coolers, GTT, and Chart Industries, with ABB handling automation and electrical solutions.

Argent estimates that exporting 20 mtpa of LNG will generate $5.5–8 billion annually, contributing to the expected ‘LNG boom’ under the Trump administration’s energy policies.