Venture Global LNG has invested in a fleet of nine LNG vessels currently under construction in South Korea that will be delivered starting later this year, further advancing the integration of the business across the LNG supply chain.
Six vessels will have a cargo capacity of 174,000 cu m and three vessels will have cargo capacity of 200,000 cu m. All will be primarily fueled by Venture Global's LNG, the company said in a release Mar. 18.
"This investment builds on our recent execution of a long-term terminal use agreement for regasification capacity at Europe's largest LNG import terminal, further advancing the integration of our business across the entire LNG supply chain; from natural gas transmission, to liquefaction and export, to best-in-class LNG cargo ships and regasification capacity,” said Venture Global chief executive officer Mike Sabel.
“This will be complementary to our core business as a supplier to long-term customers while also enabling optimization and optionality by allowing for the transport of LNG directly to the customer's point of need,” he continued.
Venture Global’s first LNG plant, Calcasieu Pass, began producing LNG in January 2022. The second plant, Plaquemines LNG, is under construction and expected to produce first LNG in 2024. The company is currently constructing and developing over 70 million tonnes/year of nameplate production capacity and is developing carbon capture and sequestration (CCS) projects at each of its LNG plants.
