Argent LNG, a US-based, Louisiana-based LNG export developer, has signed a collaboration with Ukrainian state-owned energy company Naftogaz Group to establish a framework agreement to explore long-term cooperation on the procurement, transportation and distribution of US LNG to serve the Ukraine and Central, Eastern and Southern European markets.
Argent LNG, the developer of the 25 million tons per year LNG export terminal at Port Fourchon in Louisiana, and Naftogaz have signed a Memorandum of Understanding for a framework agreement that will enable them to implement a long-term LNG sale and purchase relationship centered around multiple delivery routes.
This includes loading on board (FOB) at the Port Fourchon terminal, handing over the vessel delivery arrangements to European regasification infrastructure, and distribution through Naftogaz’s underground storage network to Ukraine and neighboring markets.
The duo also intends to explore the possibility of engaging with US government financing institutions and their European counterparts in the field of energy security, consistent with US and allied energy policy objectives. US LNG, delivered through long-standing allied trading relationships, is seen as key to diversifying supplies.
Jonathan BassChairman and CEO of Argent LNG commented: “Energy security and national security are the same thing. Every cubic meter of gas for Ukraine strengthens its energy security and its ability to make free decisions.
“Port Fourchon was created to put reliable American supplies behind allies who need them — not as a one-time shipment, but as the kind of long-term infrastructure relationship that actually changes a country’s strategic position. This MOU is the beginning of building that with Naftogaz, and we intend to move quickly and seriously toward a final agreement.”
The MoU is said to reflect a shared conviction that reliable and allied energy supplies are fundamental to the national security of Ukraine and the wider region, as Central, Eastern and Southern European countries seek to diversify away from single source and single-route supplies.
Sergey KoretskyNaftogaz CEO explained: “Signing this MOU with Argent LNG represents an important step towards building a long-term partnership with the US LNG industry. It is an important part of Naftogaz’s strategy to diversify natural gas supplies to Ukraine and strengthen the country’s energy security.”
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