Argent LNG and Ukraine's state energy company Naftogaz Group have signed a memorandum of understanding to explore long-term US liquefied natural gas supply, transport and distribution cooperation, the companies said on Wednesday.
The MOU covers potential LNG sales from Argent's planned 25 million-tonnes per annum (mtpa) 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 neighbouring 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 US government financing institutions and European energy-security partners, consistent with US 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 US Department of Energy for permission to export LNG to countries with and without free trade agreements with the US.
(Reporting by Pranav Mathur in Bengaluru; Editing by Shailesh Kuber)
