Big deal with Bangladesh on liquefied gas in the United States

  • International Desk, Barta24.com
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photo: Collected

photo: Collected

Bangladesh has signed a non-binding agreement with US liquefied natural gas supplier Argent LNG. The company will supply 5 million metric tons of liquefied gas to Bangladesh annually.

Argent LNG announced this information on Friday (January 24), Reuters reported.

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The report said that the US Department of Energy had suspended issuing licenses for sending gas to countries with which the US does not have a free trade agreement.

However, Trump revoked this through an executive order after taking office on Monday. Because he wants to increase US gas supply worldwide. He wants to double the supply by 2028.

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After taking office, Trump announced that he would increase energy exploration in the country. According to the announcement, this is the largest gas supply deal in the US since he took office.

Meanwhile, Argent LNG is building 25 million metric tons per annum (MTPA) infrastructure in Louisiana. Once the construction of the Argent LNG infrastructure in Port Fortune, Louisiana, is complete, they will be able to start selling gas cargoes to Bangladesh's Petrobangla.

The agreement will not only ensure gas supplies for our growing industry, but also strengthen our strategic relationship with the United States, Bangladesh Investment Development Authority Chairman Ashiq Chowdhury told Reuters.

Bangladesh has long been looking for a long-term solution to its energy needs. In this case, the government is leaning towards liquefied natural gas. However, when gas prices rose globally after Russia's attack on Ukraine in 2022, Dhaka began to lean back towards cheaper coal.