Latest news with #CalcasieuPass
Reuters
07-07-2025
- Business
- Reuters
Venture Global cashes in on exports from Plaquemines LNG plant, SEC filing shows
HOUSTON, July 7 (Reuters) - Venture Global (VG.N), opens new tab exported more liquefied natural gas (LNG) cargoes from its Plaquemines export facility in Louisiana and earned more than double in fees compared with its other U.S. plant, a company filing showed on Monday. The LNG company exported 51 cargoes from Plaquemines at an average liquefaction fee of $7.09 per million British thermal units (mmBtu) for the second quarter of 2025, the SEC filing showed. During the same period, it exported 38 LNG cargoes from its Calcasieu Pass facility at an average liquefaction fee of $2.66 per mmBtu. The lower second-quarter liquefaction fees at Calcasieu Pass come as Venture Global started to sell LNG under long-term contracts there, rather than on the spot market. The Plaquemines facility which is being commissioned while parts remain under construction, has been able to sell on the spot market for higher prices during this period. In just three years Venture Global has become the second-largest U.S. LNG producer, playing a key role in keeping the country as the world's top LNG exporter. The company earned significant profit by quickly building its plants combined with a long commissioning period, allowing it to sell LNG on the spot market at higher prices than it can get from long-term customers. In April the company began commercial operations at its first plant, Calcasieu Pass, three years after it started selling the superchilled gas on the spot market. This led to contract arbitration cases brought by some of the world's top oil and gas producers, including BP (BP.L), opens new tab, Shell (SHEL.L), opens new tab, Edison ( opens new tab, Orlen ( opens new tab and Repsol ( opens new tab, which accused Venture Global of profiting from the sale of LNG on the spot market while not providing them with their contracted cargoes from Calcasieu Pass. Venture Global denied the claim, saying it delayed moving to commercial operations because of a faulty electric system that did not allow the plant to operate optimally.
Yahoo
05-07-2025
- Business
- Yahoo
Venture Global secures 20-year LNG supply deal with Petronas
Venture Global has finalised a 20-year sales and purchase agreement (SPA) with Petronas LNG, a subsidiary of Malaysia's state-owned oil and gas company Petronas. Petronas will acquire one million tonnes per annum (mtpa) of liquefied natural gas (LNG) from Venture Global's CP2 LNG export facility in Louisiana, US, under the agreement. Last month, Venture Global began full mobilisation and initiated site work at the CP2 LNG facility, following the receipt of final approval from the US Federal Energy Regulatory Commission (FERC). CP2 LNG is Venture Global's third facility following Calcasieu Pass and Plaquemines LNG. The new SPA builds on an existing contract for the 1mtpa supply of LNG from Venture Global's Plaquemines LNG to Petronas. With this latest agreement, Petronas joins a list of customers from Europe, Asia, and other regions, contributing to the strategic importance of the CP2 LNG project. Venture Global has sold approximately 10.75mtpa out of the 14.4mtpa nameplate capacity for CP2 Phase One. Venture Global operates across the LNG supply chain, including LNG production, natural gas transport, shipping, and regasification. The company's first facility, Calcasieu Pass, began producing LNG in January 2022 and reached commercial operations by April 2025. Its second facility, Plaquemines LNG, initiated LNG production in December 2024. Currently, Venture Global is constructing and developing more than 100mtpa of nameplate production capacity to deliver clean and affordable energy worldwide. In addition to its LNG facilities, Venture Global is also focusing on carbon capture and sequestration projects at each site. Last month, Venture Global withdrew its application to build the Delta LNG export facility in Louisiana, opting instead to concentrate on the Plaquemines expansion project. "Venture Global secures 20-year LNG supply deal with Petronas" was originally created and published by Offshore Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
E&E News
13-06-2025
- Business
- E&E News
Venture Global ditches planned Louisiana LNG terminal
Natural gas exporter Venture Global has pulled an application with federal regulators for a liquefaction terminal in southeast Louisiana, citing plans to focus on a planned expansion of an existing export facility. In a letter to the Federal Energy Regulatory Commission this week, a Venture Global executive said the Virginia-based company has decided 'that pursuing the Delta LNG Project at this particular time would not be the best use of its corporate resources' or those of the agency. The project would have been located in Louisiana's Plaquemines Parish. The Venture Global subsidiaries behind the project are 'withdrawing the Delta LNG Project from the Commission's Pre-filing review process,' Fory Musser, Venture Global's senior vice president of development, said in the Tuesday letter to FERC. Advertisement Venture Global is also the developer in Louisiana of the Plaquemines LNG terminal; the Calcasieu Pass LNG facility; and the CP2 LNG project, which launched some on-site work earlier this month. The CP2 LNG facility is the company's third liquefied natural gas (LNG) export facility and was caught up in the Department of Energy's LNG permitting pause last year under former President Joe Biden.
Yahoo
24-05-2025
- Business
- Yahoo
Venture Global (VG) Set to Become the Largest LNG Player in America
It was recently revealed that Venture Global, Inc. (NYSE:VG) is on track to become the top LNG company in the United States. Let's shed some light on the development. A closeup of the Rio Grande LNG terminal facility, showing its massive scale. Venture Global, Inc. (NYSE:VG) develops and constructs LNG export projects to provide clean, affordable energy to the world. The company is currently among the largest LNG exporters in the United States. According to a Reuters report, recent LSEG data and company comments have revealed that Venture Global, Inc. (NYSE:VG) is on track to surpass Cheniere Energy to become the biggest U.S. LNG company by liquefaction capacity, if regulators approve its CP2 export project in Louisiana, and if it continues overproduction at its current plants. The project was initially proposed to have a capacity of 20 million metric tons per annum (mtpa), but the company has now raised the maximum capacity to 28 mtpa. Only a startup three years ago, the LNG exporter already boasts two operational facilities in Louisiana with a combined capacity to produce 38.5 mtpa. So the latest CP2 project, once it is approved and completed, will lift Venture Global's total capacity to 66.5 mtpa, helping it surpass Cheniere's expected 60 mtpa of capacity by that time. The recent commissioning of Calcasieu Pass and Plaquemines projects marked significant milestones for Venture Global, Inc. (NYSE:VG), with both facilities exporting a total of 234 TBtu of LNG during the first quarter of 2025, up 93% from the previous quarter and marking a new record high for the company. Though Venture initially expected to produce 10 mtpa at Calcasieu Pass and 20 mtpa at Plaquemines, these capacities have now been revised up to 12 mtpa and 26.5 mtpa, respectively. Jason Feer, business intelligence chief at Poten and Partners, stated about Venture Global, Inc. (NYSE:VG): "The fact that they can have two plants operating and a third close to FID (final investment decision) in three years is testimony to the speed with which they have moved." While we acknowledge the potential of VG to grow, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than VG but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock. READ NEXT: 10 Cheap Energy Stocks to Buy Now and 10 Most Undervalued Energy Stocks to Buy According to Hedge Funds Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
23-05-2025
- Business
- Yahoo
Venture Global (VG) Set to Become the Largest LNG Player in America
It was recently revealed that Venture Global, Inc. (NYSE:VG) is on track to become the top LNG company in the United States. Let's shed some light on the development. A closeup of the Rio Grande LNG terminal facility, showing its massive scale. Venture Global, Inc. (NYSE:VG) develops and constructs LNG export projects to provide clean, affordable energy to the world. The company is currently among the largest LNG exporters in the United States. According to a Reuters report, recent LSEG data and company comments have revealed that Venture Global, Inc. (NYSE:VG) is on track to surpass Cheniere Energy to become the biggest U.S. LNG company by liquefaction capacity, if regulators approve its CP2 export project in Louisiana, and if it continues overproduction at its current plants. The project was initially proposed to have a capacity of 20 million metric tons per annum (mtpa), but the company has now raised the maximum capacity to 28 mtpa. Only a startup three years ago, the LNG exporter already boasts two operational facilities in Louisiana with a combined capacity to produce 38.5 mtpa. So the latest CP2 project, once it is approved and completed, will lift Venture Global's total capacity to 66.5 mtpa, helping it surpass Cheniere's expected 60 mtpa of capacity by that time. The recent commissioning of Calcasieu Pass and Plaquemines projects marked significant milestones for Venture Global, Inc. (NYSE:VG), with both facilities exporting a total of 234 TBtu of LNG during the first quarter of 2025, up 93% from the previous quarter and marking a new record high for the company. Though Venture initially expected to produce 10 mtpa at Calcasieu Pass and 20 mtpa at Plaquemines, these capacities have now been revised up to 12 mtpa and 26.5 mtpa, respectively. Jason Feer, business intelligence chief at Poten and Partners, stated about Venture Global, Inc. (NYSE:VG): "The fact that they can have two plants operating and a third close to FID (final investment decision) in three years is testimony to the speed with which they have moved." While we acknowledge the potential of VG to grow, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than VG but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock. READ NEXT: 10 Cheap Energy Stocks to Buy Now and 10 Most Undervalued Energy Stocks to Buy According to Hedge Funds Disclosure: None.
