<\/p>\n
U.S. liquefied natural gas (LNG) company Venture Global LNG said on Monday that it will go forward with the second phase of its Plaquemines LNG export plant in Louisiana after securing $7.8 billion of financing.<\/p>\n
Phase two’s final investment decision (FID) comes after the first phase was sanctioned in May.<\/p>\n
Venture Global said that completes about $21 billion in total for Plaquemines, the largest project financing ever done in the space, to build the terminal that would produce about 20 million tonnes per annum (MTPA) of LNG.<\/p>\n
\u201cVenture Global is proud to announce a positive FID for phase two of Plaquemines LNG, less than 10 months after sanctioning phase one,\u201d Venture Global Chief Executive Mike Sabel said in a press release.<\/p>\n
Demand for U.S. LNG increased after several countries around the world slowed purchases of Russian energy and imposed sanctions on Moscow after its invasion of Ukraine in February 2022.<\/p>\n
The combination of those sanctions and the shutdown of Freeport LNG’s export plant in Texas helped drive gas prices to record highs in Europe and Asia during the summer 2022.<\/p>\n
Analysts have said the first phase at Plaquemines could start producing LNG in 2024, and the second in 2025.<\/p>\n
Venture Global said it issued full notice to KZJV to continue construction of phase 2, making it the first U.S. project to take FID in 2023.<\/p>\n
KZJV is a joint venture between Zachry Group and KBR Inc.<\/p>\n
Venture Global said Plaquemines LNG phase two customers include units of Exxon Mobil, Chevron, EnBW Energie Baden Wuerttemberg, New Fortress Energy, PETRONAS, China Gas Holdings 0384.HK and Excelerate Energy.<\/p>\n
Venture Global has about 70 MTPA of LNG export capacity in operation, construction or development in Louisiana, including the 10-MTPA Calcasieu Pass (operation), 20-MTPA Plaquemines (construction), 20-MTPA Delta (development) and 20-MTPA CP2 (development).<\/p>\n
(Reuters – Reporting by Scott DiSavino; Editing by Chizu Nomiyama and Marguerita Choy)<\/em><\/p>\n<\/p><\/div>\n maritime professional<\/p>\n","protected":false},"excerpt":{"rendered":" U.S. liquefied natural gas (LNG) company Venture Global LNG said on Monday that it will go forward with the second phase of its Plaquemines LNG export plant in Louisiana after securing $7.8 billion of financing. Phase two’s final investment decision (FID) comes after the first phase was sanctioned in May. Venture Global said that completes …<\/p>\n","protected":false},"author":1,"featured_media":32967,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[64],"tags":[],"class_list":["post-32966","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-maritime-news"],"_links":{"self":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/posts\/32966","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/comments?post=32966"}],"version-history":[{"count":0,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/posts\/32966\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/media\/32967"}],"wp:attachment":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/media?parent=32966"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/categories?post=32966"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/tags?post=32966"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}