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Venture Global to spend $8.5B on Plaquemines LNG project in Louisiana

The developer of the Plaquemines LNG export terminal will invest $8.5 billion in the Louisiana project, which is expected to send an official application to FERC after the new year.

Louisiana Gov. John Bel Edwards and Venture Global LNG executives announced the price tag in a Dec. 21 statement that lauded the project's creation of 250 direct jobs. Venture Global Plaquemines LNG LLC and Venture Global Gator Express LLC said in a monthly status update that a formal application for the terminal and associated pipeline is now expected in late January. The developers had previously anticipated filing by year-end.

"The long-term prospects for the U.S. natural gas industry are bright, and Louisiana is well-positioned to capitalize on that success with ready access to natural gas supplies and deepwater access for shipping LNG to destinations worldwide," Gov. Edwards said in the statement. "This facility will have a major impact on the local and regional economy, with hundreds of new high-paying jobs for our skilled workforce."

The Plaquemines LNG project is being proposed for a site about 20 miles south of the Port of New Orleans. The liquefaction and export facility would consist of 20 modular units, each capable of producing about 1 million tonnes per annum. Venture Global Gator Express would install and operate two pipelines to deliver gas to the terminal. The project entered FERC's prefiling review process in June 2015. The commission in an Oct. 5 public update previewed stakeholder concerns, which included impacts on fish and wildlife and noise and light pollution. Plaquemines LNG and Gator Express are Venture Global Partners LLC subsidiaries. Venture Global LNG is majority owned by Venture Global Partners. (FERC docket PF15-27)

Venture Global is also developing the $4.5 billion Calcasieu Pass liquefaction and export terminal in southwestern Louisiana's Cameron Parish, which would include nine "blocks," each containing two 0.56-Mtpa liquefaction trains.

"The support we received from the communities of Cameron and Plaquemines, along with a fair and consistent approach from regulators, reinforced our decision to expand our commitments in Louisiana," Venture Global co-CEO Mike Sabel said.