![]() On March 7, the company awarded a lump-sum turnkey (LSTK) engineering, procurement and construction (EPC) contract to Bechtel for the Stage III expansion at its Corpus Christi LNG terminal in Texas. This push will be a boon to US LNG producers, including Venture Global, as they advance plans to expand their liquefaction capacity.Īnother US LNG producer, Cheniere Energy, is also moving forward with its latest expansion project. Meanwhile, the European Union has unveiled plans to reduce its Russian gas imports by two-thirds within a year. Shell is the world’s largest trader of LNG. The announcement came on the same day that Shell announced its intention to exit all of its Russian oil and gas investments in a phased manner in response to Russia’s invasion of Ukraine. “Venture Global is committed to bringing low-cost US LNG online quickly, helping to keep the global market well supplied, while meeting our customers’ growing energy and climate goals,” stated Venture Global’s CEO, Mike Sabel. Shell’s existing contract with Venture Global covers 2mn tpy from its newly built Calcasieu Pass LNG terminal, also in Louisiana, which shipped its first cargo at the start of March. The 20-year deal covers 2mn tonnes per year and brings Shell’s total long-term offtake commitments from Venture Global’s terminals to 4mn tpy. Venture Global LNG and China Gas Holdings Limited (China Gas or the Group stock code: 384), a leading natural gas operator in China, announced that the. It will be located next to Venture Global's existing Calcasieu Pass export plant in Louisiana.Venture Global LNG announced on March 7 that it had struck a new long-term sales and purchase agreement (SPA) with Shell for offtaking from its proposed Plaquemines liquefaction terminal on Louisiana’s Gulf Coast. ![]() read moreĬP2 is designed to produce about 20 million tonnes per annum (MTPA) of LNG. The Biden administration has made it a priority to supply Europe with more natural gas via LNG exports as the European Union weans itself off Russian energy after Moscow's Feb. (Sinopec) announced the signing of two 20-year Sales and Purchase Agreements (SPA). ![]() in a sufficiently timely manner since 2021."ĬP2 appears to be a viable project that has been identified as a supplier in a 20-year contract with German energy company EnBW Energie Baden Wuerttemberg AG, ClearView also noted. 4, 2021 /PRNewswire/ - Today, Venture Global LNG and China Petroleum & Chemical Corp. Our two Louisiana-based export projects service the global demand for North American natural gas and support the long-term development of clean and reliable North American energy supplies. Venture Global’s first facility, Calcasieu Pass. We are a long-term, low-cost provider of American-produced liquefied natural gas. LNG sourced from resource rich North American natural gas basins. ![]() for not approving LNG and pipeline projects. About us Venture Global is a long-term, low-cost provider of U.S. "We appreciate that FERC continues to process CP2 and remain committed to satisfying the Commission's regulatory requirements," Hynes said.Īnalysts at ClearView Energy Partners LLC, a consulting firm, said the FERC action was noteworthy because "Congressional overseers have levied strong criticism at FERC. News of Venture Global’s deal with Sinopec follows an announcement on Monday from Cheniere Energy, a US natural gas producer, that it had signed a 13-year agreement to sell gas to a subsidiary. "Venture Global is working hard to complete outstanding regulatory deliverables for CP2," spokesperson Shaylyn Hynes said in an email. Venture Global LNG has said it planned to make a final investment decision (FID) to build CP2 in mid 2023 with first LNG expected in 2026. Federal Energy Regulatory Commission (FERC) said on Wednesday that while the schedule for its environmental reviews was suspended, it would continue to process the proposal "to the extent possible" based on information received thus far.įERC's original schedule set a July 2022 issue date for a draft Environmental Impact Statement (EIS) and a February 2023 date for the project's final EIS. energy regulator suspended its environmental review schedule for Venture Global LNG's proposed CP2 liquefied natural gas export project, citing deficiencies in filings.
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