Utilities worldwide have been using gas to keep power prices lower and maintain reliable electric grids while meeting rising energy demand. "As China's largest LNG importer, CNOOC is committed deeply not only to the mission of securing China's gas supply, but also to the climate goals of building a carbon-neutral China by 2060," said Shi Chenggang, Chairman of CNOOC Gas & Power. World LNG demand is expected to rise to 53.3 billion cubic feet per day (bcfd) next year, according to Goldman Sachs analysts.ĬNOOC also will buy 1.5 million tonnes of LNG from Venture Global's Calcasieu Pass facility for a short-term. Global LNG demand has hit record highs each year since 2015, due mostly to surging demand in China and the rest of Asia. Liquefied natural gas is viewed by many countries as a transition fuel away from heavier-polluting coal plants, particularly in China, the world's biggest user of coal. "China is critical to global climate efforts, and LNG supplied by Venture Global will serve as an important addition to their low carbon energy mix for decades," said Mike Sabel, chief executive of Venture Global.Ĭhina is set to become the world's largest importer of LNG in 2022, and CNOOC is the country's largest buyer of the super-cooled fuel. government granted Venture Global permission to start early site work on Plaquemines earlier this year. U.S.-based Venture Global said it will supply 2 million tonnes of LNG per year from its Plaquemines LNG export facility in Louisiana to CNOOC Gas & Power Group Co Ltd. Arlington, Virginia Today Venture Global LNG is announcing a final investment decision (FID) and successful closing of the 13. Venture Global has entered long-term agreements to sell LNG to units of several companies around the world, including China National Offshore Oil Corp (CNOOC), China Petroleum and Chemical Corp (Sinopec) (600028.SS), Royal Dutch Shell PLC (SHEL.L), BP PLC, Edison SpA (EDNn.MI), Galp Energia SGPS SA (GALP.LS) and Polish Oil and Gas Co (PGNiG).Dec 20 (Reuters) - Venture Global LNG said on Monday it has signed a 20-year deal to sell liquid natural gas (LNG) to a unit of China National Offshore Oil Corp (CNOOC). Venture Global has already started early site work on the $8.5 billion Plaquemines project, which analysts expect to start producing first LNG around 2024. In total, Venture Global has about 70 MTPA of LNG export capacity under construction or development in Louisiana, including the 10-MTPA Calcasieu Pass, 20-MTPA Plaquemines, 20-MTPA Delta and 20-MTPA CP2. Analysts estimate the plant cost about $4.5 billion.įERC has already approved the commissioning of three blocks - Tuesday's approval makes four. Venture Global is installing 18 modular liquefaction trains configured in nine blocks at Calcasieu to produce about 10 million tonnes per annum (MTPA) of LNG, equivalent to about 1.5 billion cubic feet per day of natural gas. Officials at Venture Global have not yet said whether the Yiannis would be the first tanker to pick up LNG at the facility.Īfter pulling in feed gas from pipelines since around August to test equipment, according to Refinitiv data, Venture Global said Calcasieu started producing LNG around Jan. Federal Energy Regulatory Commission (FERC) to load the first commissioning cargo from Calcasieu on or after Feb. Last week, Venture Global sought permission from the U.S. Venture Global LNG is part of the Energy, Utilities & Waste industry, and located in Virginia, United States. liquefied natural gas (LNG) company Venture Global LNG received permission on Tuesday from federal energy regulators to commission the fourth liquefaction block at the company's Calcasieu Pass LNG export plant in Louisiana.Ī tanker, the Yiannis, arrived on Monday near Calcasieu and could be first vessel to pick up a cargo from the facility, according to data from Refinitiv. (202) 759-6740 Company Venture Global LNG Jonathan Robillard Current Workplace Jonathan Robillard has been working as a Manager, Pipelines, Permits & Relationships at Venture Global LNG for 4 years.
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