Gastech 2024: Venture Global expands European regasification capacity through Gastrade agreement

Venture Global has executed a binding long-term terminal use agreement (TUA) with Gastrade SA, enabling the regasification and sale of LNG from Venture Global's Plaquemines 20-million tonnes/year (tpy) LNG plant as well as its future 20-millon tpy Calcasieu Pass 2 (CP2) LNG plant, both in Louisiana, to markets in Central and Eastern Europe.

Under the agreement, Venture Global has secured about 1 million tpy of LNG regasification capacity at the new 5.5-billion cu m/year Alexandroupolis LNG terminal in Greece for 5 years beginning in 2025.

The terminal will use a 153,500-cu m floating storage and regasification unit (FSRU), connected to Greece’s National Natural Gas Transmission System by a 28-km, 30-in. OD pipeline. Gastrade on Sept. 1 confirmed the commercial operations date for the Alexandroupolis terminal as Oct. 1, 2024, following the successful completion of all commissioning tests. Venture Global's capacity will be equivalent to about 12 cargoes/year.

The new LNG FSRU terminal in Alexandroupolis, part of the Vertical Corridor Initiative, will contribute to improving energy security in Central and Eastern Europe by providing a new route for alternative natural gas supplies to the region, Venture Global said. Critical energy infrastructure projects in Greece have been supported in part by European co-financing as well as by the United States government through the Development Finance Corp.