Bangladesh Signs Historic Deal with US Firm to Buy up to 5M Tons of LNG Annually

Rtv News

25 Jan 2025, 13:28

Photo: Collected

The US administration has signed a significant memorandum of understanding (MoU) with the Government of Bangladesh. This marks the first agreement between the two nations since Donald Trump took his oath as president. Ashik Chowdhury, the Executive Chairman of the Bangladesh Investment Development Authority (BIDA), shared this news via social media.

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On Saturday (January 25) at 9:46 am, Chowdhury posted on Facebook. He wrote, "Today, the Government of Bangladesh signed a landmark agreement based on Trump's new energy export mandate. We are the first country to finalize a deal with Donald Trump after his election. One of Trump's campaign promises, 'Drill, Baby, Drill,' was centred around this energy export initiative."

Highlighting Bangladesh's energy challenges, Chowdhury wrote, "Our country faces a significant gas shortage. To support industrial growth, job creation, and long-term energy supply, we must find sustainable solutions. Outside the Middle East, America offers an interesting alternative."

Regarding the broader significance of the deal, he added, "The importance of this signing lies in its strategic value for economic diplomacy. The Trump administration has a distinct approach—they are straightforward, action-driven, and results-oriented. Louisiana Senator Bill Cassidy embraced me warmly upon hearing about this agreement! In the coming years, when we approach the Trump administration on various matters, we can proudly say that Bangladesh was its first partner. Their 'America First' aligns with our 'Bangladesh First,' prioritizing our national interests."

Chowdhury also addressed skepticism about Trump's presidency, saying, "I often hear people say that Trump's leadership will spell disaster for us. First, US foreign policy is very stable—they don't suddenly make a 180-degree turn. Second, we may be honest, but we are not naïve."

He concluded by mentioning, "Previously, the Bangladesh government signed a significant LNG supply agreement with Louisiana-based Argente LNG. Under this deal, Bangladesh will purchase 5 million tons (50 lakh tons) of liquefied natural gas (LNG) annually."

It is to be noted that, Donald Trump took his oath of office for a second term as the 47th President of the United States on January 21, 2025.

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