Baker Hughes, Venture Global LNG extend partnership at Gastech 2023
(WO) – Venture Global LNG announced its long-term expansion plan to increase production from 70 million tonnes per annum (MTPA) to more than 100 MTPA of nameplate LNG export capacity. To support this initiative, Venture Global and Baker Hughes have executed an expanded master equipment supply agreement for the delivery of additional liquefaction train systems and power island systems for Venture Global’s future LNG export projects. The expanded agreement was announced on the margins of Gastech 2023 in Singapore, in the presence of Venture Global CEO Mike Sabel and Baker Hughes Chairman and CEO Lorenzo Simonelli.
Cargoes originating from Venture Global’s Calcasieu Pass project have been delivered to 24 countries and accounted for approximately 10% of the LNG exported from the United States to Europe in 2022 and 2023. Venture Global has taken FID on both phases of its 20 MTPA nameplate Plaquemines LNG facility, which is on target to produce first LNG in 2024.
By early September, Plaquemines LNG will have received the first four liquefaction train modules (Blocks 1 and 2) and the roof will be raised on its third LNG storage tank. The company expects to commence construction of its CP2 LNG facility later this year, following receipt of FERC authorization.
To date, 9.25 MTPA of CP2 LNG’s 20.0 MTPA nameplate capacity has been sold under 20-year sales and purchase agreements. Baker Hughes, as a strategic LNG-equipment supplier to Venture Global, provided comprehensive LNG technology solutions to the Calcasieu Pass LNG facilities, and will provide the same to the currently under-construction Plaquemines LNG facility.
“Natural gas will continue to play a critical role as a bridging and destination fuel for the energy transition,” said Lorenzo Simonelli, chairman and CEO of Baker Hughes. “Building on our positive track record for the Calcasieu Pass and Plaquemines LNG projects, we look forward providing VG with our proven technology solutions to enable faster time to LNG, a key advantage to our modular LNG design.”