The government has signed a heads of agreement (HOA) with the US-based Argent LNG to import up to 5 million tonnes of liquefied natural gas per year for 20 years.
Argent LNG is developing a 25 million metric tonnes per annum LNG facility in Louisiana, a southeastern US state on the Gulf of Mexico. The facility is slated to go into operation in early 2030.
The HOA is a non-binding agreement, meaning neither party is obligated to agree to the terms listed in the document.