Venture Global Approved Second Phase of Louisiana Export Terminal Project

SEATTLE (Oil Monster): Venture Global LNG Inc. has decided to go ahead with the second phase of its Plaquemines export terminal, Louisiana. The project had recently secured financing of approximately $7.8 billion.

The final investment decision (FID) for the project comes less than ten months after it had sanctioned the first phase. Venture Global is the first U.S. LNG project to reach FID during the current year.

RELATED NEWS:

BP and Partners Explore Second Phase Expansion of West Africa LNG Export Project

Natural Gas Terminal Reopens After Massive Explosion

The 20 million metric tons per year (mmty) liquefied natural gas terminal will see an investment of around $21 billion. The facility is expected to become operational sometime around 2025.

The project now has all the necessary approvals in place, including the Federal Energy Regulatory Commission approval as well as the export authorization from the U.S. Department of Energy (DoE).

The company has issued a notice to proceed with the construction of the second phase. The second phase customers of the export terminal project includes several oil majors including ExxonMobil, Chevron Corp., EnBW AG, New Fortress Energy Inc., China Gas, Petronas and Excelerate Energy Inc.

Venture Global plans to locate its proposed 20 mmty CP2 LNG project also in Louisiana, for which it has already commenced marketing activities.