Europe’s rejection of Russian natural gas could translate into a boom in infrastructure to meet demand.
An agreement to supply Europe with more LNG includes a pledge to reduce demand for oil and gas; but does it also mean a green light for Gulf Coast export terminals?
The changes come “in line with the significant growth in global trade, the improvement of ships’ economics, the Suez Canal waterway development and the enhancement of the transit service.”
Venture Global started producing LNG in January at Calcasieu, where it is installing 18 modular liquefaction trains to produce about 10 mtpa of LNG, equivalent to about 1.5 Bcf/d of natural gas.
Venture Global received permission on Feb. 11 from federal energy regulators to load LNG on the first commissioning vessel at its Calcasieu Pass export plant in Louisiana.
Cut off from capital, these projects are needed in a world at risk of stumbling badly through the energy transition.