Venture Global to invest $8.5 bln in Plaquemines LNG project

Venture Global intends to invest US$8.5 billion in its Plaquemines LNG project in Louisiana, the company’s second proposed LNG export project. 

Louisiana’s governor John Edwards, and Venture Global LNG executives Bob Pender and Mike Sabel revealed the investment on Wednesday. A statement from the governor’s office shows that the $8.5 billion investment in the company’s second LNG export project adds to the $4.5 billion investment in the Calcasieu Pass project, currently under development.

The Plaquemines LNG project has received a 25-year authorization in July by the U.S. Department of Energy to export approximately 1,240 Bcf per year of natural gas from its Plaquemines LNG project in Louisiana to free trade agreement countries.

Plaquemines LNG will be built to an export capacity of 20 million metric tons per year. The complex will be located on the west bank of the Mississippi River near Mile Marker 55, downriver of Myrtle Grove.

Construction of the Plaquemines LNG project is expected to begin in 2018, once the project is authorized by the Federal Energy Regulatory Commission. Full operations are expected to begin in 2022, the statement issued by the governor’s office reads.

According to an earlier Department of Energy filing, the proposed facility would consist of 20 pre-cooled single mixed refrigerant (SMR) blocks, four 200,000 cubic meter LNG storage tanks, three marine loading berths for oceangoing vessels within a common berthing area, and on-site electric power generation.

Each LNG block would have a nameplate liquefaction capacity of 1 million tons per annum. Each marine loading berth would be able to accommodate LNG carrier with the capacity between 120,000 cbm and 210,000 cbm.

The project is expected to be built in two phases and under optimal design conditions it may produce up to 24 mtpa, or the equivalent of approximately 1,240 Bcf/yr of natural gas.

LNG World News Staff