- The US is expected to lead the global LNG liquefaction capacity additions.
- Plaquemines is one of the key LNG liquefaction projects in the US.
- Venture Global LNG also plans to develop another project, operations to start in 2025.
The US is expected to lead the global LNG liquefaction capacity additions, contributing 57% of the total LNG liquefaction capacity additions between 2022 – 2026, says GlobalData, says an article published in the LNG INDUSTRY.
GlobalData’s report-
According to GlobalData’s latest report, ‘LNG Liquefaction Terminals Capacity and Capital Expenditure (CAPEX) Forecast by Region, Countries, and Companies, including details of New Build and Expansion (Announcements and Cancellations) Projects, 2022-2026, Global Capacity and Capital Expenditure Outlook for LNG Liquefaction Terminals, 2022-2026’.
This data reveals that the US is awaited to build a new LNG liquefaction capacity of 220.3 million tpy by 2026, while expansion projects account for the rest with 30.3 million tpy.
Oil and Gas Analyst comments
Oil and Gas Analyst at GlobalData, Himani Pant Pandey comments: “LNG developers in the US are incentivized by ever-growing demand for natural gas worldwide, especially in the Asian and European regions. The plans of several European countries and Japan to reduce their dependence on Russian gas post Ukraine invasion would further boost liquefaction developments in the US.”
Venture Global LNG
Plaquemines is one of the major LNG liquefaction projects in the US with a capacity of 20.0 million tpy. Venture Global Partners, LLC has the entire equity in the project while Venture Global LNG is the operator.
Venture Global LNG has recently announced Final Investment Decision (FID) for the initial phase of the project, as well as for the related Gator Express Pipeline.
CP2
CP2 is Venture Global LNG’s new project, with the capacity of 20.0 million tpy. The project is expected to start operations in 2025 with Venture Global LNG being the operator while Venture Global Partners, LLC has the entire equity.
CP2 would be adjacent to Venture Global’s first LNG terminal in Louisiana, Calcasieu Pass in Cameron Parish, GlobalData states.
According to GlobalData, Venture Global LNG already has long-term agreements in place with New Fortress Energy and Exxon Mobil for the CP2 project.
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Source: LNG INDUSTRY
