Argent LNG and Ukraine's Naftogaz sign MoU to explore long-term U.S. LNG supply deal
Argent LNG and Ukraine's state energy company Naftogaz Group have signed a memorandum of understanding (MoU) to explore long-term U.S. liquefied natural gas (LNG) supply, transport and distribution cooperation, the companies said on Wednesday.
The MoU covers potential LNG sales from Argent's planned 25-metric MMtpy export terminal at Port Fourchon, Louisiana.
The agreement includes free-on-board cargoes, delivered ex-ship supplies into European regasification terminals and onward distribution through Naftogaz's underground storage network into Ukraine and neighboring markets.
"Port Fourchon exists to put reliable American supply behind allies who need it — not as a one-off cargo, but as the kind of long-term infrastructure relationship that actually changes a country's strategic position," said Argent LNG chief executive Jonathan Bass.
The companies said they also plan to explore possible cooperation with U.S. government financing institutions and European energy-security partners, consistent with U.S. and allied energy policy objectives.
The non-binding agreement comes as Ukraine and other European countries seek alternatives to single-source and single-route gas supplies.
Earlier this year, Argent applied to the U.S. Department of Energy for permission to export LNG to countries with and without free trade agreements with the U.S.
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