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.