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Under the HoA, Argent will supply state-owned Petrobanga with 5 million metric tons of LNG, according to the firm.
The deal is for 20 years.
This is the first US LNG supply deal since President Donald Trump took office on January 20.
Trump has already lifted a moratorium by the former Biden administration on non-FTA LNG export permits.
Argent’s LNG project
In June last year, Argent LNG signed a long-term lease agreement with the Greater Lafourche Port Commission, securing 144 acres of land at Port Fourchon.
This strategic agreement paves the way for the development of Argent LNG’s export facility with a projected capacity of up to 20 mtpa.
According to Argent LNG’s website, the project’s EPC will be Worley, and it will be constructed by Kiewit.
In addition, Argent LNG selected LNG equipment maker Chart Industries to supply its mid-scale modular liquefaction solution for the planned LNG export terminal in Port Fourchon, and it signed a deal with ABB to collaborate on automation and electrical solutions.
Argent LNG’s facility will have an initial capacity of 10 million tons per annum (mtpa), with an estimated cost of about $10 billion.
Phase two will be to add up to an additional 10 mtpa.
Additionally, the project will feature a smaller-scale plant tailored to supply LNG for next-generation LNG-powered offshore supply vessels (OSVs) in the Gulf of Mexico, according to Argent LNG.
Argent LNG expects to launch the facility in early 2030.