Venture Global announces commercial operations for Calcasieu Pass

Venture Global (VG) announced the commercial operation date for its inaugural LNG export project – Calcasieu Pass – and the commencement of the sale of low-cost, U.S. LNG to the project’s long-term customers. “Calcasieu Pass has reached this milestone in just 68 months from the final investment decision on the project, making it among the fastest greenfield LNG projects completed. The project’s multi-billion-dollar contracts will have a significant positive impact on the US balance of trade with several European allies,” the company stated. “Due to its innovative, first-of-its kind configuration consisting of many mid-scale, modular liquefaction trains and process facilities that are delivered and installed sequentially, as well as Venture Global’s owner-led approach to construction, the project was able to overcome significant unforeseen challenges, including a global pandemic, two hurricanes, and a force majeure event that arose due to major manufacturing issues with the facility’s power island. Having completed a multi-year rectification and remediation of key components of the facility that underpin the redundancy features inherent in the project’s design, Calcasieu Pass is now ready to operate safely and reliably… The long-term sales and purchase agreements at Calcasieu Pass are among the most attractive price points for customers in the world, with average liquefaction fees under $2/mmbtu. Its long-term customers will benefit from low-cost North American LNG for the full duration of their 20-year contracts,” the company added.