Venture Global, without elaboration, has unveiled ambitious long-term plans to boost its liquefied natural gas production to more than 100 million tonnes per annum nameplate export capacity from its current and future projects both in and outside of Louisiana in the US.
In tandem, Venture Global has expanded its master equipment supply agreement with compatriot Baker Hughes to deliver additional liquefaction train systems and power island systems for its future LNG export projects.
Baker Hughes, as a strategic LNG equipment supplier to Venture Global, provided comprehensive LNG technology solutions to the Calcasieu Pass LNG facilities, and will provide the same to the under-construction Plaquemines LNG facility.
The potential value of Baker Hughes’ expanded contract was not divulged.
“Building on our positive track record for the Calcasieu Pass and Plaquemines LNG projects, we look forward providing VG with our proven technology solutions to enable faster time to LNG, a key advantage to our modular LNG design,” commented Lorenzo Simonelli, Baker Hughes chief executive.
“Natural gas will continue to play a critical role as a bridging and destination fuel for the energy transition. We are proud of our longstanding collaboration with Venture Global LNG and continue to support their plan to expand LNG production to address global energy demand.”
Venture Global in January last year started operations at its Calcasieu Pass (CP) LNG project and since then has shipped volumes to 24 countries, accounting for approximately 10% of the LNG exported from the US to Europe in 2022 and 2023.
Meanwhile, the company has already sanctioned both phases of its 20 million tpa nameplate capacity Plaquemines liquefaction project, which is on track to produce first LNG in 2024.
Within days, Plaquemines LNG is scheduled to have received the first four liquefaction train modules (blocks 1 and 2) and the roof will be raised on its third LNG storage tank.
Also, Venture Global expects before year-end to start construction of its CP2 LNG facility, following receipt of FERC authorisation. To date, 9.25 million tpa of CP2 LNG’s million tpa nameplate capacity has been sold under 20-year sales and purchase agreements.
The company is developing carbon capture and sequestration (CCS) projects at each of its LNG facilities.
“Venture Global is thrilled to announce our long-term plan to expand LNG production both in and outside of Louisiana, building on the momentum of our first three projects — Calcasieu Pass, Plaquemines LNG and CP2 LNG,” said Mike Sabel, chief executive of Venture Global.
“Now more than ever we are committed to our mission of delivering low-cost LNG at a larger scale to support the world’s growing demand for energy security, prosperity and environmental progress. We are grateful for our continued partnership with Baker Hughes, a world leader in energy technology, and look forward to building on our successful collaboration in our upcoming projects.”
The expanded agreement was announced on the margins of Gastech 2023 in Singapore.
