Venture Global Gives Green Light to Plaquemines LNG Phase 2

US: Venture Global LNG Inc. has just taken the final step to continue its Phase 2 construction at their 20-million tonne/year Plaquemines LNG plant in Plaquemines Parish, Louisiana. The company has given full notice to continue with Phase 2 construction to contractors KZJV LLC, a joint venture of Zachary Group and KBR Inc. This marks an important milestone for the organization and sets them up to achieve their goal of producing energy for years to come.

Plaquemines LNG has been granted all the necessary permits for its operations, including authorization from the US Federal Energy Regulatory Commission and clearance to export under the Department of Energy's Non-Free Trade Agreement.

This makes possible Phase 2 customers such as ExxonMobil Corp., Chevron Corp., Energie Baden-Wurttemberg AG (EnBW), New Fortress Energy Inc., China Gas Hongda Energy Trading Co. Ltd., Petroliam Nasional Berhad (Petronas) and Excelerate Energy Inc.

Venture Global has achieved a major milestone with its $7.8 billion project financing now secured. The two phases of development, combined, will cost an estimated $21 billion - and Venture Global successfully took FID (Final Investment Decision) on Phase 1 just last year.

Venture Global's third plant, the 24 million tpy CP2 LNG in Cameron Parish, La., has begun marketing and production activities. Sales agreements have been signed with leading oil companies such as ExxonMobil, Chevron, EnBW, Inpex Corp., China Gas, and New Fortress.