Venture Global is seeking federal approval to more than double the size of its Plaquemines LNG facility, proposing an additional 30 million metric tons per year of capacity on top of the already authorized 28 MMtpy, Reuters reports.
The $20 billion-plus project is already the nation’s second-largest LNG terminal and accounted for 22% of U.S. exports last month, according to LSEG. CEO Mike Sabel says surging global demand justifies the expansion, which would position Venture Global to challenge QatarEnergy and Cheniere as the world’s top LNG exporter.
The company—still a startup just three years ago—has built its market share by shipping cargoes during construction and commissioning, a strategy that boosted revenues during high spot-price periods but also triggered arbitration and lawsuits from major buyers.
Venture Global plans to add the capacity in three modular phases totaling 32 liquefaction trains and has filed a companion application with the U.S. Department of Energy for expanded export authorization.
