Venture Global LNG commits to $13B Plaquemines project

Venture Global 's Plaquemines LNG (Courtesy Venture Global)

Venture Global LNG announced last week that it has come to a final investment decision for its $13.2 billion Plaquemines facility, about 20 miles south of New Orleans, and its associated pipeline after closing on financing for the project’s first construction phase.

This is the first LNG project in the U.S. to reach financial close since Venture Global’s Calcasieu Pass facility in August 2019, according to the company announcement. 

Plaquemines LNG has gotten all of the needed permits, including FERC authorization and non-FTA export authorization from the U.S. Department of Energy.

When complete, the Plaquemines facility will employ a process from Baker Hughes that uses modular, factory-fabricated liquefaction trains in an identical configuration to the Calcasieu Pass LNG project.

Venture Global has already executed 20-year sales and purchase agreements for 80% of the full facility’s future output. Plaquemines LNG phase one customers include PGNiG, Sinopec, CNOOC, Shell and EDF; phase two customers announced to date include ExxonMobil, PETRONAS and New Fortress Energy.