#United States #Plaquemines LNG #Venture Global #LNG production #Port Sulphur

Venture Global's Plaquemines LNG Achieves Landmark Success

In a noteworthy development for the energy sector, Venture Global has announced the successful commencement of its first LNG production at the newly established Plaquemines LNG facility. Situated in Port Sulphur, Louisiana, this milestone is particularly remarkable as it occurs just 30 months after the company made its Final Investment Decision (FID). This rapid execution positions Plaquemines LNG among the fastest greenfield projects to reach first production, alongside Venture Global's earlier facility, Calcasieu Pass.

With a nameplate capacity of 20 MTPA (million tons per annum), the Plaquemines facility is set to become one of the largest LNG production plants in the world upon reaching full operational status. Mike Sabel, the CEO and Co-Founder of Venture Global, expressed pride in the dedicated team whose relentless commitment has driven this accomplishment. He emphasized how this achievement is integral to fulfilling the company's mission of supplying reliable, low-cost LNG globally. By meeting this demand, Venture Global aims to support its allies and reinforce the global energy security framework.

The first production at Plaquemines LNG heralds a new era for U.S. LNG exports. Venture Global’s plans extend beyond just this facility; the company is poised to invest a staggering $50 billion in various energy projects across the United States. These investments are anticipated to create thousands of jobs, enhance local economies, and bolster the nation's balance of trade. Moreover, this influx of LNG supply to the global market will meet the increasing energy needs of numerous allied countries.

Venture Global achieved significant milestones prior to reaching this production phase; the company finalized its investment decision for Phase One in May 2022 and Phase Two in March 2023. A unique construction approach allows Plaquemines to produce and export LNG as construction works on the remaining operational trains progress, significantly accelerating the delivery of U.S. LNG into a market that has experienced heightened demand and significant supply constraints in recent years.

This timely addition to the LNG supply chain holds substantial geopolitical significance for the United States. As the global LNG market continues to experience uncertainty and tightness, the timely production from Plaquemines LNG stands to serve as a vital asset in meeting international energy demands.

About Venture Global

Venture Global stands as a long-term provider of low-cost LNG, sourced from the abundant natural gas resources found in North America. Their operations encompass all facets of the LNG supply chain, including production, shipping, and regasification. The company's first facility, Calcasieu Pass, began LNG production in January 2022. Looking ahead, Venture Global is currently working on projects that aim for the development of over 100 MTPA in production capacity. Additionally, the company is exploring Carbon Capture and Sequestration (CCS) initiatives across its facilities to promote cleaner energy solutions.

This significant achievement by Venture Global at the Plaquemines LNG facility is not just a win for the company but a strategic advantage for the United States as it reinforces its position as a key player in the global energy market. As the world shifts towards cleaner energy alternatives and reliable supply chains, such accomplishments will be crucial in navigating the complex dynamics of global energy security.