Venture Global and Baker Hughes Expand LNG Equipment Supply Agreement
(P&GJ) — Venture Global LNG has announced a significant expansion plan to boost its LNG production capacity from 70 million tonnes per annum (MTPA) to over 100 MTPA of LNG export capacity. In support of this initiative, Venture Global and Baker Hughes have entered into an expanded master equipment supply agreement.
"Venture Global is thrilled to announce our long-term plan to expand LNG production both in and outside of Louisiana, building on the momentum of our first three projects – Calcasieu Pass, Plaquemines LNG, and CP2 LNG," Mike Sabel, CEO of Venture Global, said.
This agreement covers the delivery of additional liquefaction train systems and power island systems for Venture Global's upcoming LNG export projects.
The announcement of the expanded agreement took place during Gastech in Singapore and was attended by Venture Global CEO Mike Sabel and Baker Hughes Chairman and CEO Lorenzo Simonelli.
Venture Global has been making substantial progress on its various projects. Cargoes originating from its Calcasieu Pass project have been delivered to 24 countries, making up approximately 10% of the LNG exported from the United States to Europe in both 2022 and 2023.
Venture Global has already reached the final investment decision (FID) on both phases of its 20 MTPA Plaquemines LNG facility, which is on track to produce its first LNG in 2024. By early September, Plaquemines LNG will have received the first four liquefaction train modules (Blocks 1 and 2), and construction will commence on its third LNG storage tank following the receipt of FERC authorization. The company also plans to begin construction of its CP2 LNG facility later this year, having already sold 9.25 MTPA of its 20 MTPA nameplate capacity under 20-year sales and purchase agreements.
Baker Hughes, as a strategic LNG equipment supplier to Venture Global, has been providing comprehensive LNG technology solutions to the Calcasieu Pass LNG facilities and will continue to do the same for the under-construction Plaquemines LNG facility.
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