Venture Global starts LNG sales from Plaquemines

Venture Global has initiated LNG sales for early 2025 from the Plaquemines terminal, marking a key milestone in U.S. market expansion despite challenges at Calcasieu Pass.

Share:

Subscribe for unlimited access to all energy sector news.

Over 150 multisector articles and analyses every week.

Your 1st year at 99 $*

then 199 $/year

*renews at 199$/year, cancel anytime before renewal.

The global liquefied natural gas (LNG) market is shifting as Venture Global, a major player in the sector, announces the start of sales from its Plaquemines terminal in Louisiana. With the recent authorization from the Federal Energy Regulatory Commission (FERC) to introduce feed gas, initial exports could begin as early as January 2025.

These sales include four to five cargoes per month, part of a short-term offer introduced earlier in 2024. Venture Global also ensured flexible loading options from the Calcasieu Pass terminal, despite delays in its commissioning. This strategy optimizes the ability to meet growing market demands.

Strategic Flexibility

The Plaquemines terminal is pivotal for expanding U.S. LNG exports. Some January cargoes were negotiated at prices indexed to the European market (TTF), reflecting market conditions and logistics costs. Prospective buyers are also anticipating reduced freight rates, increasing interest in 2025 cargo offerings.

Shipping costs for LNG carriers in the Atlantic reached historic lows, with daily rates averaging $9,000 at the end of November. This drop, combined with increased cargo availability, strengthens the appeal of Venture Global’s offerings.

Calcasieu Pass: Delays and Adjustments

The Calcasieu Pass terminal faces technical challenges in its power generation facilities, delaying the full start of commercial operations, now expected in April 2024. Nonetheless, Venture Global continues to offer spot cargoes, addressing immediate market needs.

These additional cargoes serve as a strategic response to rising demand driven by geopolitical tensions in Ukraine, European concerns over gas supplies, and colder winter temperatures.

An Accelerated Start for Plaquemines

Designed for rapid production, the Plaquemines terminal employs an innovative approach. In September, Venture Global imported a cargo to cool the infrastructure, allowing a swift transition to initial exports. This method is expected to combine stored LNG with newly produced volumes, effectively meeting demand.

Competitive U.S. LNG prices increase interest from European and Asian markets. For example, January 2025 prices are assessed at $14.334/MMBtu in Europe and $15.202/MMBtu in Asia, according to recent indices.

Through this proactive strategy, Venture Global positions itself as a key player in LNG exports, despite technical and logistical challenges faced by its facilities.

CTCI strengthens its position in Taiwan with a new EPC contract for a regasification unit at the Kaohsiung LNG terminal, with a capacity of 1,600 tonnes per hour.
Exxon Mobil forecasts sustained growth in global natural gas demand by 2050, driven by industrial use and rising energy needs in developing economies.
Capstone Green Energy received a 5.8-megawatt order for its natural gas microturbines, to be deployed across multiple food production facilities in Mexico through regional distributor DTC Machinery.
Private firm Harvest Midstream has signed a $1 billion acquisition deal with MPLX for gas processing and transport infrastructure across three western US states.
Sempra Infrastructure and EQT Corporation have signed a 20-year liquefied natural gas purchase agreement, consolidating Phase 2 of the Port Arthur LNG project in Texas and strengthening the United States’ position in the global LNG market.
Subsea7 was selected to lead phase 3 of the Sakarya gas field, a strategic contract for Türkiye’s energy supply valued between $750mn and $1.25bn.
Tokyo protests against Chinese installations deemed unilateral in a disputed maritime zone, despite a bilateral agreement stalled since 2010.
Bp has awarded Baker Hughes a long-term service agreement for the Tangguh liquefied natural gas plant, covering spare parts, maintenance and technical support for its turbomachinery equipment.
Chinese group Sinopec has launched a large-scale seismic imaging campaign across 3,000 km² in Mexico using nodal technology from Sercel, owned by Viridien, delivered in August to map areas with complex terrain.
CNOOC Limited has signed two production sharing contracts with SKK Migas to explore the Gaea and Gaea II blocks in West Papua, alongside EnQuest and Agra.
A consortium led by ONEOK is developing a 450-mile pipeline to transport up to 2.5 billion cubic feet of gas per day from the Permian Basin to the Gulf Coast.
AMIGO LNG has awarded Drydocks World a major EPC contract to build the world’s largest floating LNG liquefaction terminal, aimed at strengthening exports to Asia and Latin America.
The Alberta Utilities Commission approves the Need Assessment Application for the Yellowhead Pipeline, marking a key step for Canadian Utilities, a subsidiary of ATCO. The project foresees significant economic benefits for the province.
Nigeria LNG signs major deals with oil groups to ensure gas supply to its liquefaction infrastructure over two decades.
The European Union and Washington have finalized an agreement setting $750 billion in U.S. gas, oil and nuclear purchases, complemented by $600 billion in European investments in the United States by 2028.
Sempra Infrastructure and ConocoPhillips signed a 20-year LNG sales agreement for 4 Mtpa, confirming their joint commitment to expanding the Port Arthur LNG liquefaction terminal in Texas.
Russian pipeline gas exports to China rose by 21.3% over seven months, contrasting with a 7.6% drop in oil shipments during the same period.
MCF Energy continues operations at the Kinsau-1A drilling site, targeting a promising Jurassic formation first tested by Mobil in 1983.
The group announces an interim dividend of 53 cps, production of 548 Mboe/d, a unit cost of $7.7/boe and major milestones on Scarborough, Trion, Beaumont and Louisiana LNG, while strengthening liquidity and financial discipline.
Norway’s combined oil and gas production exceeded official forecasts by 3.9% in July, according to preliminary data from the regulator.

Log in to read this article

You'll also have access to a selection of our best content.

or

Go unlimited with our annual offer: $99 for the 1styear year, then $ 199/year.