Argent LNG, LLC, the developer of a 25 million tpy LNG export terminal at Port Fourchon, Louisiana, and Naftogaz Group, Ukraine’s largest oil and gas holding, have signed a memorandum of understanding (MoU) establishing a framework agreement to explore long-term US LNG offtake, transportation, and distribution co-operation serving Ukraine and Central, Eastern, and Southern European markets.

Under the framework, the parties intend to execute a long-term LNG sale and purchase relationship structured around multiple delivery pathways: free-on-board (FOB) loading at Argent LNG’s Port Fourchon terminal, delivered ex-ship arrangements into European regasification infrastructure, and onward distribution through Naftogaz’s underground storage network into Ukraine and neighbouring markets. The parties also intend to explore potential engagement with US government financing institutions and European energy security counterparts, consistent with US and allied energy policy objectives.

The MoU reflects a shared conviction that reliable, allied energy supply is foundational to national security for Ukraine, and for the broader region, as Central, Eastern, and Southern European nations seek to diversify away from single-source and single-route supply. American LNG, delivered through long-term, allied commercial relationships, is central to that diversification.

“Energy security and national security are the same thing,” said Jonathan Bass, Chairman & CEO of Argent LNG. “Every cubic meter of gas for Ukraine strengthens its energy security, and its ability to make free decisions. 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. This MoU is the start of building that with Naftogaz, and we intend to move quickly and seriously toward a definitive agreement.”

“The signing of this MoU with Argent LNG marks an important step toward building a long-term partnership with the American LNG industry. It is an important part in Naftogaz’s strategy to diversify natural gas supplies to Ukraine and strengthen the country’s energy security,” said Sergii Koretskyi, CEO of Naftogaz Group.

Read the article online at: https://www.lngindustry.com/liquid-natural-gas/16072026/argent-lng-and-naftogaz-group-sign-mou-on-long-term-us-lng-co-operation/