U.S. liquefied natural gas (LNG) export project developer Venture Global has reached commercial operations (COD) for the first phase of its Plaquemines LNG export facility in Louisiana, hitting the milestone just over 53 months after making its final investment decision (FID), a project described as one of the fastest greenfield LNG developments ever completed.
Venture Global has begun commercial operations at the first phase of its second LNG export project, Plaquemines LNG, and confirmed the sale of low-cost, U.S. LNG to the first phase’s long-term sales and purchase agreement (SPA) customers, with the first post-COD cargo lifted by Shell.
"Achieving commercial operations at the first phase of our second LNG project in 53 months is a testament to our team's relentless dedication and hard work. We are thrilled to hit another major milestone that enables us to continue delivering reliable, affordable American LNG to the global market. We deeply appreciate the collaboration of our regulators and supply chain partners, whose shared commitment helped us deliver this project safely and on schedule."
The American LNG company underlines that it looks forward to working with its long-term customers to deliver reliable and affordable U.S. LNG supply for decades to come, since it expects these volumes to act as an important stabilizing force as the global LNG market endures an extended period of volatility.
With over 100 million metric tons per annum (mtpa) of capacity in production, construction, or development, Venture Global began producing LNG from its first facility in 2022.
The firm’s first three projects, Calcasieu Pass, Plaquemines LNG, and CP2 LNG, are located in Louisiana along the Gulf of America (U.S. Gulf of Mexico). The company is also developing carbon capture and sequestration (CCS) projects at each of its LNG facilities.