To date, however, only 17.5% of the capacity from the proposed Plaquemines LNG has been sold so far, based on public disclosures. In the highly competitive field of developers of new liquefaction projects in the US that have struggled to secure long-term contracts to finance the construction of their terminals, Venture Global differentiated itself with Calcasieu Pass by offering supplies to customers for ultra-low fees.Ībout 90% of Calcasieu Pass' offtake was sold under long-term agreements - Venture Global was said to have offered some of the LNG for less than $2/MMBtu.
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"Following the receipt of commission authorization and other necessary approvals, CP2 LNG plans to begin construction of the project in the second quarter of 2023, to commission and initiate operation of its LNG blocks sequentially, to make its first deliveries of LNG in Q2 2025, and to achieve full commercial operations for the first phase by mid-2026," the filing said. The first phase would start construction with receipt of regulatory approvals, while the second would depend upon market conditions, according to the FERC filing (PL21-1). It would be built in two phases of 10 million mt/year nameplate capacity each, as would the 48-inch-diameter pipeline, with 84,000 hp of compression allowing for up to 2 Bcf/d in the first phase and another 84,000 hp, bringing the total up to 4 Bcf/d, in the second. The LNG terminal would be adjacent to the Calcasieu Pass terminal. 22, would include 18 liquefaction blocks, each with a nameplate capacity of about 1.1 million mt/year, four LNG full containment storage tanks, two marine loading berths, and an onsite, 1,400 MW combined cycle gas-turbine power generation station. The CP2 LNG project pitch, disclosed in a pre-filing application on FERC's website Jan. Last spring, Venture Global also began the early FERC review stage for the Delta LNG project, an up to 24 million mt/year facility in Plaquemines south of New Orleans, although the company did not mention that facility in its latest filing. The company already is building the Calcasieu Pass Project in Cameron and has received authorization to build the Plaquemines LNG project as well. The proposal for the CP2 LNG project and CP Express pipeline marks another bullish bet Venture Global has made on US LNG export prospects. Receive daily email alerts, subscriber notes & personalize your experience.
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