Transgaz Seeks US LNG Investment to Diversify Central and Eastern Europe's Energy Supply

Romania's national natural gas transmission system operator, Transgaz, has signed a memorandum of understanding (MOU) with Argent LNG to advance the US gas route to Central and Eastern Europe.

The MOU establishes a framework for Transgaz to explore a strategic equity investment in Argent LNG, which is developing an LNG export terminal in Port Fourchon, Louisiana. The planned capacity of the terminal is 25 million metric tons per year (mtpa).

Transgaz CEO Ion Sterian and Argent LNG Chairman and CEO Jonathan Bass signed the MOU in Bucharest, marking a significant step towards diversifying regional energy supply by building a bridge between US Gulf Coast LNG and European markets.