Press release
Venture Global and Baker Hughes Announce Expanded Master Equipment Supply Agreement to Support Venture Global's Long-Term Expansion Plan
Long-term Expansion plan will increase Venture Global's production to more than 100MTPA across its current and future projects both in and outside of
About this update from Baker Hughes Company
[{"type":"text","content":"Long-term Expansion plan will increase Venture Global's production to more than 100MTPA across its current and future projects both in and outside of Louisiana Expanded Master Equipment Supply Agreement with Baker Hughes to support expansionSINGAPORE, Sept. 4, 2023 /PRNewswire/ -- Today, Venture Global LNG announced its long-term expansion plan to increase production from 70 million tonnes per annum (MTPA) to more than 100MTPA 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 in Singapore in the presence of Venture Global CEO Mike Sabel and Baker Hughes Chairman and CEO Lorenzo Simonelli. \n\n \n \n \n \n \n \n\n \nVenture Global continues to execute and achieve major milestones at each of its projects. Cargoes originating from its 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 20.0 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.\n\"Venture Global is thrilled to announce our long-term plan to expand LNG production both in and outside of Louisiana, building on the momentum of our first three projects – Calcasieu Pass, Plaquemines LNG and CP2 LNG,\" said Mike Sabel, CEO of Venture Global. \"Now more than ever we are committed to our mission of delivering low-cost LNG at a large...