Venture Global LNG has taken a final investment decision (FID) and closed the US$13.2bn financing for the initial phase (13.3 Mt/year) of the Plaquemines LNG export plant in Plaquemines Parish, Louisiana (United States), and the associated Gator Express pipeline. This is the first LNG project located in the United States to reach financial close since Venture Global’s Calcasieu Pass plant in August 2019.
Plaquemines LNG has received all necessary permits, including FERC authorization and non-FTA export authorization from the US Department of Energy. In addition, the company has executed 20-year Sales and Purchase Agreements (SPAs) for 80% of the full 20 Mt/year project, supplying LNG from the first phase to PGNiG, Sinopec, CNOOC, Shell and EDF. Moreover, the second phase of the project should sell LNG to ExxonMobil, Petronas and New Fortress Energy. Marketing is actively underway for the company’s third plant, CP2, and two SPAs with ExxonMobil and New Fortress Energy have already been executed for this project.
There are six LNG export terminals operating in the United States for a total capacity of 72 Mt/year (April 2022).
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