The Bangladesh Investment Development Authority (BIDA) has announced the signing of a transformative Heads of Agreement (HOA) between Bangladesh and Louisiana-based Argent LLC for the purchase of up to 5 million metric tonnes of Liquefied Natural Gas (LNG) annually.
The agreement was made possible by US President Donald Trump’s “Drill, Baby, Drill” energy mandate, which promoted the exploration and export of US energy resources, providing the foundation for this historic deal, according to a BIDA press statement.
The deal was signed by BIDA Executive Chairman Ashik Chowdhury and Chairman and CEO of Argent LNG Jonathan Bass in a ceremony at the Bangladesh Embassy in Washington, D.C. on Friday.
“Petrobangla has been seeking long-term solutions to address the rising demand for energy in Bangladesh. This agreement not only ensures a reliable energy supply for the country’s expanding industrial base but also strengthens our strategic partnership with the United States,” said BIDA Executive Chairman Ashik Chowdhury.
By embracing the principles of ‘America First’ and ‘Bangladesh First,’ this collaboration highlights a fair, balanced, and mutually beneficial approach that leverages the strengths of both nations to drive economic growth, regional stability, and shared prosperity, he said.
“Argent LNG is pleased to announce the signing of this Heads of Agreement with Bangladesh, marking a significant step forward in strengthening our energy partnerships,” said Jonathan Bass, Chairman and CEO of Argent LNG. “This agreement will pave the way for the United States to provide reliable baseload energy to Bangladesh, enabling the country to expand its capacity for growth,” he added.
“This partnership underscores our shared commitment to fostering bilateral and equitable trade, supporting supply chain security, and deepening ties between our two nations,” said Jonathan Bass.
The signing ceremony also featured Chett Chiasson, Executive Director of the Greater Lafourche Port Commission (GLPC), which oversees Port Fourchon, a major energy hub in Louisiana.
“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, creating high-paying jobs in Louisiana while bolstering the United States’ leadership in the global energy market,” said Chiasson.
However, the Energy and Mineral Resources Division (EMRD) has expressed that it was not informed about the signing of the LNG supply deal between the US company and Bangladesh.
