Page 9 - GLNG Week 11 2023

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Venture Global moves ahead with

second phase of Plaquemines LNG

US VENTURE Global LNG will proceed with the CEO Mike Sabel said.
second phase of the Plaquemines LNG export “Our company’s continued ability to com-
It is the first US LNG terminal in Louisiana, the company revealed mercialise, obtain financing and build our proj-
FID this year. on March 13. Having secured $7.8bn in project ects in an extremely competitive market is a
financing, a final investment decision (FID) was testament to our team’s proven track record of
made to support the construction of the second discipline and execution,” he added.
phase of the 20mn tonnes per year (tpy) name- Venture Global has already secured authori-
plate capacity facility. sation from the Federal Energy Regulatory
In total, $21bn has now been committed to Commission (FERC) and non-Free Trade
the two phases of the project. It also marks the Agreement (FTA) export authorisation from the
first LNG project in the country to take FID in Department of Energy (DoE).
2023. The first phase of the terminal is anticipated
With the financial investment confirmed, the to begin producing LNG by 2024, while the sec-
company has now given full notice to construc- ond phase is expected to be ready in 2025.
tion company KZIV to proceed with the devel- Plaquemines LNG phase two customers
opment of phase two. KZIV is a joint venture include ExxonMobil, Chevron, Energie Baden
between KBR and Zachry Group. Wuerttemberg, New Fortress Energy, Petronas,
“Venture Global is proud to announce a pos- China Gas Holdings and Excelerate Energy.
itive final investment decision for phase two of With the go-ahead given to phase two, Ven-
Plaquemines LNG, less than 10 months after ture Global now has around 70mn tpy of LNG
sanctioning phase one,” Venture Global LNG export capacity in operation, construction

Week 11 17•March•2023 www. NEWSBASE .com P9