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 Trump administration’s ‘Drill, Baby, Drill’ energy mandate, which ended the LNG export ban introduced by the Biden administration, is said to have provided the foundation for this agreement dubbed historic by the Bangladeshi government.
“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).
“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.”
The Executive Chairman of BIDA signed the agreement together with Jonathan Bass , Chairman and CEO of Argent LNG, at a ceremony held at the Bangladesh Embassy in Washington, D.C. on January 24, 2025.
“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, where it intends to build a “sustainable” LNG facility. The initial phase will see the installation of LNG liquefaction trains with approximately 10 mtpa of nominal liquefaction capacity. Four additional trains are planned to be added after that, for up to 20 mtpa in total.
The developer, which claims to be at the forefront of the shale gas revolution as the port is located near what it says are major shale gas plays, intends to focus primarily on LNG, which will be distributed to markets spanning four continents. Operations are scheduled to start in 2029/2030.
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Since Argent LNG intends to place a focus on environmental sustainability, electricity will be generated by wind. The firm believes this combination of strategic advantages, operational efficiency, and environmental responsibility positions it as a “trailblazer” in the future of U.S. gas exports to the world.
About 90% of Argent’s anticipated aggregate LNG production capacity will be secured through long-term take-or-pay agreements to ensure stable cash flows The remaining LNG volumes will be sold on the spot market, allowing the firm to capitalize on market opportunities driven by the dynamic short-term natural gas supply.
Worley has been selected to develop the site layouts and initiate the Federal Energy Regulatory Commission (FERC) process with Argent, while construction services will be provided by Kiewit . Hudson Air Coolers, GTT, and Chart Industries are set to provide cooling and liquefaction services, and ABB will deliver automation and electrical solutions.
Argent estimates the overall economic benefits of exporting the contracted 20 mtpa of LNG from the United States will be $5.5–8 billion annually. This is in line with the Trump administration’s renewed focus on natural gas , which is expected to cause an ‘LNG boom’ and contribute $1.3 trillion to the country’s gross domestic product through 2040.