Plaquemines LNG is Formally in Commercial Operations

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Written by Daniel Graeber for IIR News Intelligence (Sugar Land, Texas)

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Summary

Venture Global said its Plaquemines terminal for LNG exports from Louisiana was among the fastest projects to ever make it to commercial operations. The plant is among the largest in the U.S. market by volume.

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Deals to Be Had, Both for U.S. and Global Players

Plaquemines, among the larger terminals for exports of U.S.-sourced liquefied natural gas, formally entered commercial operations in record-setting fashion, operator Venture Global said Monday.

Data from Industrial Info show Plaquemines can process as much as 3.85 billion cubic feet of gas per day (Bcf/d) for conversion to liquefied natural gas (LNG) for exports. Operator Venture Global announced Monday that Plaquemines formally started commercial operations, 53 months after reaching a final investment decision.

The company said that's among the fastest start-to-finish LNG projects ever completed. The first shipment after that feat was delivered to Shell, though Venture Global did not publish volumes or a destination.

"We are thrilled to hit another major milestone that enables us to continue delivering reliable, affordable American LNG to the global market," said Mike Sabel, the company's chief executive officer.

Already slated for expansion, Venture Global also operates the Calcasieu Pass terminal that can process as much as 1.6 Bcf/d into LNG for exports. That plant started operations in 2022, and both are situated on the coast of Louisiana on the Gulf of Mexico.

Combined, those two plants account for about 25% of total feed gas delivered to operating LNG export terminals. Over the three-month period ending June 30, meanwhile, Venture Global delivered 127 cargoes laden with LNG, a 42% increase from the same period last year.

Elsewhere, Industrial Info Resources is tracking more than $19 billion worth of active and proposed projects related to an expansion at Calcasieu Pass. Readers can learn more from a detailed list of project reports.

The United States is the world leader in both natural gas production and LNG exports, and both are on pace for expansion. The U.S. Energy Information Administration, the statistical arm of the Energy Department, expects dry natural gas production to increase 3.5% from the 2025 average to reach 116.1 Bcf/d by next year.

LNG exports, for their part, are on pace to increase by nearly 6% by 2026. That's supporting a global market under pressure from the conflict simmering in the Middle East. Ongoing risks to shippers in the region are curbing supplies of crude oil and natural gas. That, in turn, is creating problems for Qatar, a major LNG exporter in its own right.

QatarEnergy last week reached out to U.S. suppliers for an alternative source of LNG. The company has told its European clients that it would be unable to deliver cargoes until at least December due to issues at home.

Blackstone Takes Stake in LNG Canada

Elsewhere in North America, investment firm Blackstone said it would invest US$3.2 billion to take the 49.9% non-controlling interest in a subsidiary of Mistubishi that's involved in the LNG Canada facility in British Columbia.

LNG Canada is the only facility of its kind in operation in Canada and the first one out of the gate to deliver the super-cooled gas from the Pacific Coast, largely catering to markets in Aisa.

"This announcement builds on our deep conviction in Canada, our partnership with the country's leading institutional investors and our ability to provide large corporates with flexible solutions to unlock value from their most critical assets," said Zachary Rubenstein, a managing director at Blackstone.

LNG Canada has a central role to play in Canadian Prime Minister Mark Carney's trade strategy. Put off by the harsh rhetoric from U.S. President Donald Trump, Carney aims to establish Canada as an energy superpower and cut U.S. trade. LNG Canada already has an offtake agreement with German energy company SEFE and Australia's Santos.

Key Takeaways

Plaquemines quick to the finish line

Venture Global accounts for a considerable about of feed gas backing LNG exports

By the Numbers

3.5% increase in U.S. natural gas production expected to 2027

6% increase in LNG exports

About Industrial Info Resources

Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news, and analysis on the industrial process, manufacturing, and energy-related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified, and verified plant and project opportunities. Across the world, Industrial Info Resources is tracking over 250,000 current and future projects worth $30.2 Trillion (USD).