- Will Buy up to 5M Tons of LNG Annually
DHAKA (Agencies): Bangladesh has signed a landmark agreement with Louisiana-based Argent LNG, marking its first major liquefied natural gas (LNG) supply deal with the United States. The deal, valued at $2.7 billion, is the first trade agreement under the new U.S. administration, signaling strengthened ties between the two nations.
Under the agreement, Argent LNG will supply Bangladesh with 1.2 million metric tonnes of LNG annually for the next 15 years, with deliveries beginning in 2026. This move comes as Bangladesh seeks to diversify its energy sources to meet the growing demand of its industrial and residential sectors.
Previously, Bangladesh relied heavily on LNG imports from Qatar and Oman, along with spot purchases from the global market to meet its energy needs. The agreement with Argent LNG marks a significant shift towards broader partnerships, particularly with the U.S., amid rising global energy competition.
Although India has not been a direct supplier of LNG to Bangladesh, the two countries maintain robust energy cooperation through piped natural gas (PNG) and cross-border electricity trade. India supplies pipeline gas from its northeastern states and exports electricity through a shared power grid, ensuring steady energy support for Bangladesh.
Energy analysts see the Bangladesh-U.S. LNG deal as a strategic move to reduce dependence on Middle Eastern suppliers and to secure long-term energy stability. It also reflects the U.S. administration’s push to promote American energy exports globally.
“This deal is a game-changer for Bangladesh as it diversifies its energy portfolio and reduces reliance on a few traditional suppliers,” said a government official in Dhaka.
The agreement with Argent LNG aligns with Bangladesh’s broader efforts to bolster energy security and ensure uninterrupted supplies to fuel its rapid industrialization. It also opens the door to deeper economic collaboration between Dhaka and Washington in the years ahead.