Venture Global sanctions Plaquemines LNG Phase 2

Venture Global LNG Inc. has taken final investment decision (FID) on Phase 2 of its 20-million tonne/year (tpy) Plaquemines LNG plant in Plaquemines Parish, La. Accordingly, the company also issued a full notice to continue with Phase 2 construction to contractors KZJV LLC, a joint venture of Zachary Group and KBR Inc.  

Plaquemines LNG has received all necessary permits, including US Federal Energy Regulatory Commission authorization and non-Free Trade Agreement export authorization from the Department of Energy. Plaquemines LNG Phase 2 customers include ExxonMobil Corp., Chevron Corp., Energie Baden-Württemberg AG (EnBW), New Fortress Energy Inc., China Gas Hongda Energy Trading Co. Ltd., Petroliam Nasional Berhad (Petronas), and Excelerate Energy Inc. (OGJ Online, Feb. 28, 2023). 

The project has also successfully closed its full $7.8 billion financing. The two phases combined will cost $21 billion. Venture Global took FID on Phase 1 last year (OGJ Online, May 25, 2022).

Marketing is actively underway for production from Venture Global’s third plant, the 24-million tpy CP2 LNG in Cameron Parish, La., and sales agreements have been signed with ExxonMobil, Chevron, EnBW, Inpex Corp., China Gas, and New Fortress (OGJ Online, Feb. 24, 2023).