Venture Global LNG Announces Expansion to 60 MTPA, Expands LNG Process System Agreement with BHGE
ARLINGTON, Va., March 14, 2019 /CNW/ -- Venture Global LNG, Inc. announces that it will expand the scope of its LNG development business to 60 million tonnes per annum (MTPA) of production based on customer demand. The company has increased the size of its 2016 process equipment supply agreement with Baker Hughes, a GE company to 60 MTPA, under which BHGE will deliver a comprehensive technology solution for Venture Global's LNG export facilities under agreed terms and defined performance guarantees. The agreement provides for the guaranteed supply of highly efficient and reliable modular liquefaction trains plus power generation and electrical distribution equipment that will be standardized across the company's Calcasieu Pass, Plaquemines LNG, and expansion projects.
Co-CEOs Bob Pender and Mike Sabel jointly stated, "With this expanded 60 MTPA commitment from BHGE, we can grow our business to meet the increasing demand for our low-cost LNG from our international customers. Having fully contracted Calcasieu Pass and anticipating completion of Plaquemines LNG, we are pleased to announce this expansion to meet additional customer demand. We believe our model of mid-scale modular liquefaction is the future of low-cost LNG production."
The 10 MTPA Calcasieu Pass project has received all federal authorizations and the project's EPC contractor, Kiewit, is actively mobilizing pursuant to FERC authorization and plans to commence fully site activities imminently. Under 20-year agreements with Shell, BP, Edison S.p.A., Galp, Repsol and PGNiG, Calcasieu Pass will begin delivering US natural gas to the global market in 2022. The 20 MTPA Plaquemines LNG project is expected to receive its final FERC authorization in August and commence construction in 2019.
About Venture Global LNG
Venture Global LNG is a long-term, low-cost provider of LNG to be supplied from resource rich North American natural gas basins. Venture Global LNG's liquefaction process system employs a highly efficient and reliable suite of products supplied by BHGE. Venture Global LNG is developing the 10 MTPA Venture Global Calcasieu Pass facility (on an approximately 1,000-acre site located at the intersection of the Calcasieu Ship Channel and the Gulf of Mexico), the 20 MTPA Venture Global Plaquemines LNG facility (on an approximately 630-acre site in Plaquemines Parish, Louisiana, 30 miles south of New Orleans on the Mississippi River), and additional projects to be announced. Venture Global has raised $855 million of capital to-date to support the development of its projects. More can be found at www.venturegloballng.com.
SOURCE Venture Global LNG, Inc.
Investor, Leah Woodward, D: +1 202 759-6746, [email protected]; or Media, Jessica Wickett, D: +1 202 759-6739, [email protected], http://www.venturegloballng.com
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