Romania's state-controlled gas transmission operator Transgaz signed a memorandum of understanding (MoU) with US-based Argent LNG on August 6 to explore a potential strategic equity investment in the developer of a liquefied natural gas (LNG) export terminal in Port Fourchon, Louisiana, according to Bursa.

Argent LNG is developing an export terminal at Port Fourchon with a planned capacity of 25 million metric tonnes per year (Mtpa). The project is expected to deliver its first commercial cargo in 2030.

The non-binding agreement, signed at Transgaz's headquarters in Bucharest, establishes a framework for negotiations on a possible Transgaz stake in Argent LNG alongside other US investors.

According to the companies, the initiative would allow Transgaz to strengthen its long-term access to US LNG supplies while participating directly in the development of one of North America's largest planned LNG export facilities.

Beyond securing LNG supplies, the memorandum envisages using Romania's gas transmission network as a regional transit corridor for US LNG destined for the Republic of Moldova, Ukraine and other Central and Eastern European countries, including Hungary, Austria, the Czech Republic, Slovakia and Germany.

The agreement does not commit either party to an investment, with any potential participation by Transgaz remaining subject to further negotiations and the completion of the necessary commercial and regulatory procedures.

(Photo: Oleg Kachura/ Dreamstime)

iulian@romania-insider.com