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Released March 07, 2025 | SUGAR LAND
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Written by Daniel Graeber for Industrial Info Resources (Sugar Land, Texas)--Bruised by historically low prices for natural gas last year, U.S.-based LNG exporter Venture Global (NYSE:VG) (Arlington, Virginia) said nevertheless that its growing portfolio is built for value.
IIR Energy confirmed the inaugural batch of feedgas went to Venture Global's Plaquemines export facility for liquefied natural gas (LNG) in December. The company made a final investment decision on Plaquemines in 2022, and federal regulators in November gave the company permission to introduce natural gas into the export plant.
Plaquemines has a design capacity of 1.9 billion cubic feet per day (Bcf/d). It was operating at 80% of its peak as of Thursday. Of the 29 vessels laden with LNG that departed U.S. terminals over the seven-day period ending February 26, two left from Plaquemines.
Subscribers to Industrial Info's Global Market Intelligence (GMI) Oil & Gas Project Database can learn more by viewing the Plaquemines project reports.
Venture Global also runs the Calcasieu Pass facility. The plant in Louisiana was working at 95% of its peak design capacity of 1.76 Bcf/d. It's been operating in the commissioning phase over the last three years, keeping a lid on capacity. The company is targeting commercial operations by April 15. Venture Global added Thursday that it was launching plans for a final investment decision on a second phase for Calcasieu Pass. Subscribers can click here for the plant profile.
"We have achieved strong results as we continued to reach important milestones across our projects," said Mike Sabel, the chief executive officer at Venture Global. "We have brought much needed incremental LNG capacity to the market from Calcasieu Pass and Plaquemines -- the majority of which went to our allies in Europe."
Shale-sourced LNG delivered from the United States helped fill a void left by sanctions imposed on gas-rich Russia for its invasion of Ukraine in 2022. Geopolitical tides have turned considerably with the start of the second, non-consecutive term in the White House for President Donald Trump, who's been criticized by his opponents for seemingly favoring Moscow over Europe.
Flows continue, however. The first-ever cargo from Plaquemines was shipped to German energy company EnBW Energie Baden-Württemberg AG (Karlsruhe, Germany), but that was in December, before Trump returned to office.
Trump in one of his first acts of office in January opened up the LNG sector to more permits, and has since sanctioned two export projects -- the Golden Pass LNG terminal at Sabine Pass, Texas, and Commonwealth LNG's planned facility in Louisiana.
Subscribers can read more information on the Golden Pass and Commonwealth LNG projects.
A special permit is needed to export LNG to countries without a U.S. free-trade agreement. It's unclear how Trump's trade agenda would impact LNG. Claiming the European Union was formed to "screw the United States," he's mulling a 25% tariff on goods coming from Europe.
Demand for natural gas suffered last year, however, as the world's major economies tried to arrest inflationary strains lingering since vaccines were introduced against the novel coronavirus that causes COVID-19. Henry Hub, the U.S. benchmark for the price of natural gas, traded at historic lows last year, taking a toll on revenue streams for major energy companies.
Net annual income of $1.4 billion for Venture Global in 2024 marked a $1.2 billion decline from the prior year. The company blamed the decline on lower international LNG prices and the costs associated with developing the second phase of Calcasieu Pass.
The United States has been the world leader in LNG exports since 2022. Current export levels are above the estimated 14 Bcf/d expected for the annual average this year. IIR Energy data show exports of LNG averaged 15.6 Bcf/d so far in March.
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 validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 Trillion (USD).
IIR Energy confirmed the inaugural batch of feedgas went to Venture Global's Plaquemines export facility for liquefied natural gas (LNG) in December. The company made a final investment decision on Plaquemines in 2022, and federal regulators in November gave the company permission to introduce natural gas into the export plant.
Plaquemines has a design capacity of 1.9 billion cubic feet per day (Bcf/d). It was operating at 80% of its peak as of Thursday. Of the 29 vessels laden with LNG that departed U.S. terminals over the seven-day period ending February 26, two left from Plaquemines.
Subscribers to Industrial Info's Global Market Intelligence (GMI) Oil & Gas Project Database can learn more by viewing the Plaquemines project reports.
Venture Global also runs the Calcasieu Pass facility. The plant in Louisiana was working at 95% of its peak design capacity of 1.76 Bcf/d. It's been operating in the commissioning phase over the last three years, keeping a lid on capacity. The company is targeting commercial operations by April 15. Venture Global added Thursday that it was launching plans for a final investment decision on a second phase for Calcasieu Pass. Subscribers can click here for the plant profile.
"We have achieved strong results as we continued to reach important milestones across our projects," said Mike Sabel, the chief executive officer at Venture Global. "We have brought much needed incremental LNG capacity to the market from Calcasieu Pass and Plaquemines -- the majority of which went to our allies in Europe."
Shale-sourced LNG delivered from the United States helped fill a void left by sanctions imposed on gas-rich Russia for its invasion of Ukraine in 2022. Geopolitical tides have turned considerably with the start of the second, non-consecutive term in the White House for President Donald Trump, who's been criticized by his opponents for seemingly favoring Moscow over Europe.
Flows continue, however. The first-ever cargo from Plaquemines was shipped to German energy company EnBW Energie Baden-Württemberg AG (Karlsruhe, Germany), but that was in December, before Trump returned to office.
Trump in one of his first acts of office in January opened up the LNG sector to more permits, and has since sanctioned two export projects -- the Golden Pass LNG terminal at Sabine Pass, Texas, and Commonwealth LNG's planned facility in Louisiana.
Subscribers can read more information on the Golden Pass and Commonwealth LNG projects.
A special permit is needed to export LNG to countries without a U.S. free-trade agreement. It's unclear how Trump's trade agenda would impact LNG. Claiming the European Union was formed to "screw the United States," he's mulling a 25% tariff on goods coming from Europe.
Demand for natural gas suffered last year, however, as the world's major economies tried to arrest inflationary strains lingering since vaccines were introduced against the novel coronavirus that causes COVID-19. Henry Hub, the U.S. benchmark for the price of natural gas, traded at historic lows last year, taking a toll on revenue streams for major energy companies.
Net annual income of $1.4 billion for Venture Global in 2024 marked a $1.2 billion decline from the prior year. The company blamed the decline on lower international LNG prices and the costs associated with developing the second phase of Calcasieu Pass.
The United States has been the world leader in LNG exports since 2022. Current export levels are above the estimated 14 Bcf/d expected for the annual average this year. IIR Energy data show exports of LNG averaged 15.6 Bcf/d so far in March.
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 validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 Trillion (USD).
