Dhaka, Bangladesh (January 25, 2025) – The Bangladesh Investment Development Authority (BIDA) announces the signing of a transformative Heads of Agreement (HOA) between the Government of Bangladesh and Louisiana-based Argent LLC for the purchase of up to 5 million metric tons of liquefied natural gas (LNG) annually.
US President Donald Trump’s “Drill, Baby, Drill” energy mandate, promoting the exploration and export of US energy resources, provided the foundation for this historic agreement. The deal was signed by Ashik Chowdhury, Executive Chairman of BIDA, and Jonathan Bass, Chairman and CEO of Argent LNG, in a ceremony at the Bangladesh Embassy in Washington, D.C on Friday.
“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. 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,” said Ashik Chowdhury, Executive Chairman of BIDA.
“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 Jonathan Bass, Chairman and CEO of Argent LNG.
The signing 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, bringing high-paying jobs to Louisiana while bolstering the United States’ leadership in the global energy market,” said Chiasson.
The agreement underscores growing energy collaboration between the two nations, reflecting Bangladesh’s role as a rising economic force in South and Southeast Asia and the U.S.’s position as a reliable supplier of clean energy. It is also expected to contribute to global energy transition efforts, reducing reliance on higher-carbon fuels while fostering economic growth.
This landmark initiative reaffirms BIDA’s commitment to fostering impactful international partnerships that drive industrial growth and economic prosperity.
