Venture Global LNG

🚨NEWS: FEDERAL ENERGY REGULATORY COMMISSION APPROVES VENTURE GLOBAL’S CP2 LNG 🇺🇸   Arlington, VA-Today, Venture Global issued the following statement on the Federal Energy Regulatory Commission’s (FERC) approval of CP2 LNG, the company’s third export facility.    “Venture Global applauds the Commission and FERC staff for their independent and thorough review and approval of CP2 LNG,” said Mike Sabel, CEO of Venture Global LNG. “This project will be critical to global energy security and supporting the energy transition, as well as provide jobs and economic growth across Louisiana and the United States. We appreciate Commissioner Clements’ service on the Commission and look forward to continuing to work with Chairman Phillips, Commissioner Christie, and the newly confirmed commissioners as well the outstanding FERC staff. I’d like to thank the Venture Global team who has worked with professionalism and great resolve to answer all requests from our regulators. We look forward to a swift non-FTA approval from the U.S. Department of Energy for this project that is critical to both global and national security.”    To date, the initial phase of CP2 has been sold through 20-year sales and purchase agreements with ExxonMobil, Chevron, JERA, New Fortress Energy, INPEX, China Gas, SEFE and EnBW. In addition, CP2 LNG has also recently signed an HOA with DTEK of Ukraine. Venture Global is in active discussions for the remaining capacity and has launched significant off-site construction of the project. 

🚨NEWS: Today, Venture Global announced the successful launch of its first LNG vessel, the Venture Gator at a ceremony which took place at the Samsung Heavy Industries shipyard in Geoji-si, South Korea. The Venture Gator is the first of nine LNG carriers in the Venture Global fleet to be completed in quick succession across three shipyards in South Korea over the coming 24 months, which will transport LNG from the U.S. to multiple global partners and destinations. The ship deploys best-in-class environmental and efficiency technology and will be primarily fueled by Venture Global’s liquefied natural gas. The Venture Gator and progressively the fleet’s other eight ships will commence serving our global partners in Europe and Asia beginning this fall.

🚨NEWS: Today, Venture Global and D. TRADING (commercial arm of DTEK Group) announced the execution of a comprehensive Heads of Agreement (HOA) for the supply of U.S. liquefied natural gas (LNG) to Ukraine and Eastern Europe. 🇺🇸🤝🇺🇦 ✅The HOA provides that DTEK’s subsidiary, D. TRADING, will purchase cargoes from Venture Global’s Plaquemines LNG facility beginning later this year through the end of 2026 to support near to medium term energy security needs for Ukraine and the broader Eastern European region. ✅ In addition, the HOA provides that D. TRADING will purchase up to 2 million tonnes per annum (MTPA) of LNG from Venture Global’s third facility, CP2 LNG, for 20 years. ✅The HOA also calls for cooperation on opportunities to access regasification terminal capacity and gas pipeline capacity that provide an integrated and flexible transport path to support the energy security of the region.    “Venture Global is proud to partner with D. TRADING to support Ukrainian and Eastern European energy security by supplying short-term and long-term U.S. LNG from our Plaquemines and CP2 facilities. President Biden has committed to increasing LNG supply into Europe and Venture Global is pleased to be in a position to continue to support these efforts. With this landmark agreement, we will help bolster Ukraine’s security of natural gas supply, aid continued recovery and economic growth in the region, and further strengthen European energy security,” said Mike Sabel, CEO of Venture Global. 

"We are writing in response to your environmental information request, made ahead of tomorrow’s sunshine notice for the Commission’s May 2024 meeting. To date, our team has worked diligently to meet or exceed every request made by the Commission and will continue to do so. Your decision to issue yet another eleventh hour data request this afternoon based on an unverified claim from a known opponent to the project does nothing but introduce the potential for further delay and encourage further baseless claims that the Commission has historically dispensed with. In any event, attached please find our response to your latest request; we believe it squarely addresses your questions.... As you know, it has been nearly ten months since CP2 LNG received its positive final environmental impact statement (FEIS), making it the longest LNG project to ever await a commission vote. According to today’s media reports, Chairman Phillips recently stated regarding CP2: “When this project is ready, we will vote it out. We have approved projects, and we continue to approve those matters that are properly filed and pending before FERC.” Respectfully, CP2 has been properly filed and ready for approval for many months, however, as always, we are committed to being responsive to every request made by the Commission..." Read the full letter below⬇️

This week Venture Global was honored to host a Congressional delegation led by House Majority Leader Steve Scalise along with Plaquemines Parish community leaders and stakeholders at Plaquemines LNG, America's next LNG export facility 🇺🇸

🇺🇸🤝🇯🇵Today, Venture Global CEO Mike Sabel was honored to meet His Excellency Fumio Kishida, the Prime Minister of Japan, during his official visit to Washington. Venture Global is proud to be a growing major LNG supplier to Japan and we look forward to many years of supporting the energy security and decarbonization efforts of this critical U.S. ally. Thank you to the U.S. Chamber of Commerce for hosting this productive discussion. Photo Credit: Ian Wagreich, US Chamber

🚨NEWS: Venture Global Announces Fleet of State of the Art LNG Vessels First vessels to be delivered this year   Houston, Texas – Today, Venture Global LNG announced the acquisition and construction of a new large fleet of LNG-powered vessels. Venture Global’s fleet will include nine vessels, currently under construction in South Korea, that will be delivered starting later this year. Six vessels will have a cargo capacity of 174,000 m3 and three a cargo capacity of 200,000 m3. All nine ships will deploy best-in-class environmental and efficiency technology and will be primarily fueled by Venture Global’s liquefied natural gas.    “Venture Global is pleased to announce our new fleet of world-class, next generation LNG vessels, further strengthening our growing role as a major global energy provider. This investment builds on our recent execution of a long-term terminal use agreement for regasification capacity at Europe’s largest LNG import terminal, further advancing the integration of our business across the entire LNG supply chain; from natural gas transmission, to liquefaction and export, to best-in-class LNG cargo ships and regasification capacity. This will be complementary to our core business as a supplier to long-term customers while also enabling optimization and optionality by allowing for the transport of LNG directly to the customer’s point of need. We are sending a strong signal to the global market of our long-term commitment to meeting the world’s growing energy demand at a large scale, bolstering the security of our customers and allies by providing them with clean, affordable, and reliable U.S. LNG as efficiently as possible,” said Venture Global CEO Mike Sabel.   The vessels are propelled by the latest 2-stroke MEGA/MEGI engines which, in combination with the use of the most recent hull forms, shaft generator and air lubrication systems, result in the highest fuel efficiency and lowest GHG emissions based on currently available LNG carrier technology. The selected main engine type supported by the shaft generator technology significantly reduces methane slip compared to the previous generations of 2-stroke and 4-stroke propelled LNG carriers. LNG vessels are mainly powered by natural gas which is cleaner-burning than traditional fuel oil. Pollutants like nitrogen oxides and sulfur oxides are significantly reduced, and CO2 emissions are 25% lower than CO2 emissions from ships powered by fuel oil.    

Statement from Venture Global LNG regarding further FERC delay   "Venture Global is deeply disappointed that CP2 is yet again absent from the FERC Agenda. It has been eight months since FERC issued a Final Environmental Impact Statement for CP2, making it one of the longest to ever sit before the Commission. We remain confident that we have met or exceeded all regulatory requirements that are necessary to move forward with the project.    Relying on what has historically been a fair and predictable regulatory regime, free from political interference, we have launched off-site construction and spent billions of dollars on the project. First LNG is expected in 2026 should the federal government act without further delay to approve CP2. Phase One is nearly sold out with 9.25MTPA of 10MTPA contracted. 2/3 of that capacity is committed to our allies in Germany and Japan who are counting on the LNG to replace lost Russian volumes.    We are hopeful that FERC will remain the independent agency it always has been."

Today Venture Global’s CEO Mike Sabel was pleased to meet with German Chancellor Olaf Scholz to discuss the important role US LNG and CP2 LNG will have in supporting Germany’s long term energy security and decarbonization goals. Venture Global is proud to soon be Germany’s largest global LNG supplier. 🇺🇸🇩🇪 #EnergySecurity #USLNG #CP2LNG #VentureGlobalLNG U.S. Chamber of Commerce

🚨NEWS: Venture Global and National Grid Grain LNG Limited sign new deal further strengthening the security of supply of natural gas to the United Kingdom Today, Grain LNG and Venture Global have announced the execution of a binding long-term terminal use agreement (TUA) enabling the regasification and sale of LNG from all of Venture Global’s terminals in Louisiana, including CP2 LNG, subject to obtaining necessary federal permits. Under the agreement, Venture Global will have the ability to access 3 million tonnes per annum (3MTPA) of LNG storage and regasification capacity at the Isle of Grain LNG receiving terminal for sixteen years beginning in 2029-equivalent of up to 5% of average UK gas demand. This is the second agreement from Grain LNG’s competitive auction process which was launched in September 2023. The successful outcome of the auction further secures the future of Europe’s largest LNG import terminal into the mid 2040s. Currently undergoing a significant expansion, Grain LNG will soon have enough regasification capacity to service approximately one third of the UK’s gas demand, serving as a gateway to the UK energy market as well as the broader European region. The UK has recently seen a significant rise in LNG imports as Europe has diversified its LNG sources.   With volumes across its projects - Calcasieu Pass, Plaquemines LNG and CP2 LNG - this investment will bolster Venture Global’s status as a strategic supplier to Europe. This flexibility and access to Venture Global’s volumes will be critical to the UK and Europe’s efforts to replace LNG volumes from other suppliers. To date, Venture Global has exported about 75% of its cargoes to Europe. Mike Sabel, CEO of Venture Global said: “Venture Global is thrilled to announce our first investment in LNG infrastructure outside of the United States, bolstering our ability to supply LNG from all our projects. The Grain LNG terminal is an important gateway to the broader European market, and we look forward to supplying the region through this new access point for years to come.” Katie Jackson, President of National Grid Ventures said: “I’m delighted that we are today able to announce the second result from our September auction, commencing a long term partnership with Venture Global. LNG imports play a critical role in making sure the whole of the UK has the gas it needs, when it needs it, providing a flexible and reliable supply of gas to heat peoples’ homes. The UK has recently seen a significant rise in LNG imports as Europe has sought alternative energy sources. The addition of our first US customer further diversifies our supplier base, underpins UK consumers’ energy security and guarantees the future of our world-class site out to 2045.”