Venture Global LNG, a leading U.S. liquefied natural gas (LNG) producer, is set to enhance its position in the global energy market with the acquisition of a new fleet of nine LNG-powered vessels. These state-of-the-art ships, currently being constructed in South Korea, are part of the company’s strategic move to integrate its operations across the LNG supply chain more comprehensively.
Announced on March 17, the fleet will start being delivered later this year. It consists of six vessels with a cargo capacity of 174,000 cubic meters each and three vessels capable of carrying up to 200,000 cubic meters of LNG. Venture Global emphasizes that these ships will primarily use the company’s LNG as fuel, embodying the pinnacle of environmental and efficiency technologies available today.
A key feature of these vessels is their propulsion system, powered by the latest generation of 2-stroke MEGA/MEGI engines. This technology, coupled with advanced hull designs, shaft generators, and air lubrication systems, positions the fleet at the forefront of fuel efficiency and greenhouse gas (GHG) emission reduction in the LNG carrier industry.
Mike Sabel, CEO of Venture Global, expressed his enthusiasm for the initiative, stating, “Venture Global is thrilled to unveil our fleet of cutting-edge, next-generation LNG vessels. This expansion not only solidifies our role as a significant global energy provider but also complements our recent agreement for regasification capacity at Europe’s largest LNG import terminal, enhancing our business integration across the LNG value chain.”
The company’s commitment to the global energy sector was further underscored by a binding long-term terminal use agreement with UK National Grid Grain LNG. This deal grants Venture Global access to the Isle of Grain LNG receiving terminal for 16 years starting in 2029, facilitating the direct transportation of LNG to meet customer needs and supporting global energy demand with clean, affordable, and reliable U.S. LNG.
Venture Global began LNG production at its first facility, Calcasieu Pass, in January 2022. Its second facility, Plaquemines LNG, is underway and expected to start operations in 2024. Additionally, the company’s third facility, CP2 LNG, received a positive final environmental impact statement from the Federal Energy Regulatory Commission in July 2023, marking another significant milestone in its expansion.
