Venture Global LNG Launches Tolling Capacity Offer
Venture Global LNG has announced a global offer of 5 MTPA of tolling capacity and/or liquefied natural gas supply from its facility under development in Cameron Parish, Louisiana.
Robert Pender, Venture Global Co-Managing Director, said, “Venture Global intends to be a long term, low cost producer of LNG. Working with a global LNG technology vendor, we are configuring a highly efficient, low cost, modular mid-scale LNG liquefaction facility. Compared to other technology we anticipate lower capital costs, increased operating efficiencies, and a shorter construction period.”
Venture Global has a 109 acre site close to the Gulf of Mexico and located directly on the Calcasieu Ship Channel south of Lake Charles, Louisiana. The channel is maintained year-round by the U.S. government. The area is one of the most liquid and robust natural gas trading areas in North America, and several major interstate and intrastate natural gas pipelines are within a few miles. The Gulf of Mexico proximity substantially shortens loading turn-around times compared to the more inland Lake Charles area. The site offers room for expansion beyond the initial 5 MTPA capacity, with over 2000 feet of channel frontage, full road and water access, and adequate buffers.
Venture Global has retained a leading global investment bank and lender to provide financial advisory services, and assembled a team of world-class vendors, international and local counsel, nationally recognized environmental and energy industry consultants.
In September 2013, Venture Global received authorization from the United States Department of Energy to export LNG by vessel to free trade agreement nations. Venture Global’s application for authorization to export to non-free trade agreement nations is pending. The team targets commencing construction in mid-2015 and a commercial operations date in the third quarter 2018.
LNG World News Staff, January 07, 2014; Image: Venture Global