Venture Global LNG's Plaquemines export plant under construction in Louisiana was on track to pull in enough natural gas on Dec. 13 to produce first LNG, according to data from financial group LSEG and energy analysts.

Plaquemines was on track to pull in about 0.16 Bcf/d of pipeline gas on Dec. 13, up from 0.10 Bcf/d on Dec. 12 and an average of 0.04 Bcf/d during the prior seven days, according to LSEG data.

Analysts have said that once feedgas to the plant hits around 0.15 Bcf/d or higher, it likely means the plant is pulling in enough fuel to run at least one 0.15- Bcf/d block of two liquefaction trains.

One billion cubic feet can supply about five million U.S. homes for a day.

On Dec. 12, sources said they expected the plant to start producing first LNG as soon as this week.

The U.S. became the world's biggest LNG producer in 2023, ahead of recent leaders Australia and Qatar, as much higher global prices feed demand for more exports due in part to supply disruptions and sanctions linked to Russia's February 2022 invasion of Ukraine.

Gas flows to the eight big operating U.S. LNG export plants, including Plaquemines, were on track to reach an 11-month high of 14.9 Bcf/d on Dec. 13, up from 13.6 Bcf/d on Dec. 12 and an average of 14.0 Bcf/d over the prior seven days.

In addition to Plaquemines, Dec. 13’s increase in gas flows was due to rising feedgas at U.S. LNG company Cheniere Energy's 4.5- Bcf/d Sabine Pass plant in Louisiana to a 13-month high of 5.2 Bcf/d.

LNG plants can pull in more gas than they can turn into LNG since they use some of the gas to fuel equipment.

Venture Global's Venture Bayou LNG tanker is docked at the Plaquemines facility, according to ship tracking data from LSEG. Analysts say the Venture Bayou will likely be used as part of the process to commission the plant.

Officials at Venture Global were not immediately available for comment.

The first 1.8- Bcf/d phase of Plaquemines is expected to enter service from 2024-2026, while the second 0.9- Bcf/d phase was on track to enter service in 2025-2026. Venture Global has said in financial documents seen by Reuters that it expects Plaquemines to cost around $21-$22 billion.

Comments