Argent LNG, a company developing an LNG facility in Louisiana, has signed an agreement with the government of Bangladesh to purchase up to 5 million metric tons of LNG annually. This deal is the first major U.S. LNG supply agreement since President Trump took office and reflects confidence in the new administration’s energy policies, including lifting restrictions on LNG exports. The United States is already the largest LNG exporter in the world and is expected to double its capacity by 2028. If the Argent LNG project is completed, its cargoes could be sold to Petrobangla, a Bangladesh state-owned company. Bangladesh has been seeking long-term solutions to its energy needs and has been transitioning towards increased use of LNG. However, the country is price sensitive and has occasionally reverted to burning cheaper coal when LNG prices spike. The partnership with the U.S. not only ensures a reliable energy supply for Bangladesh’s industrial sector but also strengthens the strategic relationship between the two countries. This agreement is a significant development in the global LNG market and demonstrates the potential for future collaborations between the U.S. and countries looking to secure a stable energy supply.
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