Venture Global LNG, a major US liquefied natural gas (LNG) firm, has transported the first cargo from its Plaquemines export facility in Louisiana as reported by Reuters. The Venture Bayou tanker, part of the company’s fleet of nine new LNG vessels, is en route to German utility company EnBW. Ship tracking data from LSEG, the financial firm, shows that the vessel will reach Brunsbüttel, Germany by January 8, 2025.

Venture Global and its Role in Europe’s Energy Supply

Since 2022, Venture Global has delivered more than 60 LNG shipments to Germany and it has become an indispensable element of Europe’s energy security since the Russian invasion of Ukraine interrupted supplies. At present, the United States is the world’s biggest LNG exporter, and natural gas continues to be an essential source of supply from this country for Europe.

Accelerated Progress at Plaquemines Facility

Mike Sabel, the company’s CEO, said, “In just five years, Venture Global has built, produced and launched exports from two large-scale LNG projects which has never been done before in the history of the industry.”

The Plaquemines plant will become one of the world’s largest LNG facilities, with a capacity of 20 million metric tons per annum (MTPA), when it is fully operational. Construction and commissioning of its 36 trains and other supporting infrastructure continue. Already, LNG production and exports have commenced at the plant. The plant has confirmed the US’s position as the world’s leading exporter of LNG, despite going over budget by $2.35 billion.

Also read: Germany urges the EU to act on phasing out Russian energy imports

Building on its success with its Calcasieu Pass plant, Venture Global keeps breaking industry records with how fast it is developing its projects. According to Reuters, recently, the firm submitted a claim for one of the largest initial public offerings globally.

Isometric, a prominent carbon registry, has teamed up with climate tech startup Pachama to revolutionize dMRV for reforestation credits. This collaboration seeks to upgrade the quality and transparency of reforestation efforts using innovative technologies.

Leveraging Advanced Technologies

Isometric announced that Pachama will be its first partner in deploying dMRV for reforestation. Pachama specializes in using geospatial data and Artificial Intelligence (AI) to assess carbon projects effectively. Their advanced tools map land suitability, estimate leakage risks, and calculate baselines for reforestation initiatives.

Sensing technologies such as LiDAR and satellite remote sensing enable the generation of detailed canopy height models. Dynamic baselining is also achieved using cutting-edge spatial algorithms. Isometric emphasized that these state-of-the-art technologies must form the backbone of new MRV approaches by 2025.

Also read: Isometric Partners with Seven dMRV Providers to Streamline Carbon Credit Certification

Enhanced Verification Process

In August, Isometric introduced a certification platform enabling suppliers to streamline data submission and verification. The platform supports data submission, editing, and quality assurance, simplifying the verification process. Suppliers can now use advanced tools from industry leaders to verify and issue credits faster.

This development marks a significant leap in accelerating reforestation projects while maintaining rigorous standards. By leveraging Pachama’s technological expertise, Isometric is redefining the verification landscape in the carbon market.

Industry Recognition

Isometric recently became the first carbon registry to earn endorsements from the industry’s top verification bodies. These include the International Carbon Reduction and Offset Alliance, also known as the ICROA, Carbon Offsetting and Reduction Scheme for International Aviation, CORSIA, and Integrity Council for the Voluntary Carbon Market, ICVCM.

This partnership between Isometric and Pachama marks an important step forward in the carbon market. By integrating advanced dMRV technologies, the initiative promises to set new standards for quality and efficiency in reforestation credits. This collaboration underscores the importance of innovation in combating climate change effectively.