Venture Global Launches Ad Campaign Along with Vitol Deal

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

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Summary

Voiced by award-winning actor Billy Bob Thornton, Venture Global launched its first-ever U.S. ad campaign. The company said it's evolving to become one of the largest LNG exporters in the world.

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"Unstoppable Energy"

While launching its first-ever U.S. ad campaign, liquefied natural gas (LNG) supplier Venture Global said it signed a long-term sales and purchase agreement with global commodity trader Vitol for its cargoes.

Venture Global on Monday announced the rollout of a multimillion-dollar, year-long ad campaign that it said introduces it and its products to the U.S. audience for the first time. Titled "Unstoppable Energy," the ad features actor Billy Bob Thornton as the voice-over talent.

"The Unstoppable Energy campaign portrays the roll-up-your-sleeves tenacity and innovation that drives our company every day," Mike Sabel, Venture's chief executive officer, said. "We are proud to introduce the ethos and story of the Venture Global brand across the U.S. as we grow into one of the largest liquefied natural gas exporters in the world."

Operating both the Calcasieu Pass and Plaquemines facilities, Venture Global accounts for about 28% of total U.S. deliveries of LNG. In terms of feed gas, IIR Energy in its NATGAS Today report for Monday showed the company received 5.8 billion cubic feet of natural gas.

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Sabel said that expansion projects to its facilities could eventually generate about 68 million metric tons per annum (MTPA) on an annual run-rate basis. About 70% of that capacity is already booked under long-term basis supply agreements.

Vitol Secures 1.5 MTPA Amid Global Crunch

Elsewhere, Venture Global said it signed a binding agreement to deliver 1.5 MTPA of LNG to Swiss commodity trader Vitol for a five-year period starting this year.

"LNG is important to many economies worldwide," said Pablo Galante Escobar, the global head of LNG for Vitol. "Through this transaction Vitol is expanding its supply base to be able to offer diverse and reliable sources of energy to our customers and partners around the world."

That matters as war continues to rage in the Middle East, despite word from U.S. President Donald Trump that negotiations with Iran were under way. After Trump during the weekend threatened to bomb Iran's power grid, Tehran on Monday denied that talks were ongoing.

Iran has struck out against Western allies in the region since joint U.S.-Israeli airstrikes February 28 left Iran's Supreme Leader Ali Khamenei and a handful of other top officials dead. An Iranian bombardment has choked off maritime traffic in the Persian Gulf and prompted Qatar, one of the leaders in LNG supplies, to thwart activity because of the conflict.

Last week, QatarEnergy said it expected it would take five years to repair damage to the Ras Laffan Industrial City, sidelining some 12.8 MTPA of LNG production. The company said it's out about $20 billion a year in lost revenue because of missile strikes.

The United States remains the world leader in exports of LNG, however. In terms of feed gas supporting exports, the U.S. Department of Energy expects to see an average of 16.7 billion cubic feet per day for U.S. terminals this year. That would mark a 10.5% increase from year-ago levels should the forecast prove accurate.

By the Numbers

• 1.5 MTPA for Vitol
• 12.8 MTPA sidelined in Qatar

Key Takeaways

• Venture Global introduces itself
• Expansion projects to lift its LNG export potential

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About IIR News Intelligence
IIR News Intelligence is a trusted source of news for the industrial process and energy markets, powered by Industrial Info Resources' Global Market Intelligence (GMI).

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 validated plant and project opportunities. Across the world, IIR is tracking over 250,000 current and future projects worth $30.2 Trillion (USD).