Venture Global Plans $18 Billion Expansion of Plaquemines LNG Plant in Louisiana
(Reuters) — Venture Global said on Thursday it would expand the total production capacity of its Plaquemines LNG plant in Louisiana to 45 million tonnes per annum (MTPA), up from the current 27 MTPA, with an additional investment of $18 billion.
The company, which became one of the most valuable U.S. LNG companies when it listed in January, had earlier in the day raised its estimates for the cost to build the initial phases of Plaquemines by around $2 billion.
The new third phase of expansion will consist of 24 trains, adding to the current 36 trains at the LNG plant, and will bring Venture Global's total investment in both current and planned projects in Louisiana to over $75 billion, CEO Mike Sable said.
The company expects a final investment decision on the expansion to come after the first production at its CP2 export plant in Louisiana.
The company is locked in contract disputes with customers such as BP, Shell and Edison over non-receipt of cargoes from its Calcasieu Pass due to lengthy testing and optimizing process before commercial operation.
Related News
Related News
- Kinder Morgan Proposes 290-Mile Gas Pipeline Expansion Spanning Three States
- Valero Plans to Shut California Refinery, Takes $1.1 Billion Hit
- Three Killed, Two Injured in Accident at LNG Construction Site in Texas
- Tallgrass to Build New Permian-to-Rockies Pipeline, Targets 2028 Startup with 2.4 Bcf Capacity
- TC Energy Approves $900 Million Northwoods Pipeline Expansion for U.S. Midwest
- U.S. Pipeline Expansion to Add 99 Bcf/d, Mostly for LNG Export, Report Finds
- Enbridge Adds Turboexpanders at Pipeline Sites to Power Data Centers in Canada, Pennsylvania
- Great Basin Gas Expansion Draws Strong Shipper Demand in Northern Nevada
- US Poised to Become Net Exporter of Crude Oil in 2023
- EIG’s MidOcean Energy Acquires 20% Stake in Peru LNG, Including 254-Mile Pipeline
Comments