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Venture Global ( VG ) seeks FERC approval for Plaquemines LNG

expansion

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Expansion aims to meet strong market demand, says CEO Mike

Sabel

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Plaquemines expansion to be built in three phases, fully

commissioned by 2027

By Curtis Williams

HOUSTON, Nov 17 (Reuters) - Venture Global ( VG ) said

on Monday it had asked the U.S. Federal Energy Regulatory

Commission for permission to more than double the capacity of

its Plaquemines liquefied natural gas export facility under

development in Louisiana.

The company wants to add 30 million metric tons per annum

(mtpa) of additional LNG capacity to the previously approved 28

mtpa. Plaquemines is already the second-largest LNG facility in

the U.S. and last month was responsible for 22% of total exports

from the country, according to data from financial firm LSEG.

"Our decision to significantly increase the project's

permitted capacity reflects the strong market demand we continue

to see and this expansion will play a vital role in meeting that

demand," Venture Global ( VG ) CEO Mike Sabel said in a statement.

The proposed expansion would allow the company to produce

over 100 million mtpa of the liquid fuel and challenge

QatarEnergy and Cheniere as the world's top exporter of

LNG.

A mere startup three years ago, Venture Global ( VG ) quickly

became the second-largest U.S. LNG exporter with a business

model that lets it export cargoes while construction and

commissioning phases are still underway.

The strategy has allowed the company to profit from higher

spot market prices before it begins supplying longer-term

customers, but the practice has also resulted in arbitration

cases and lawsuits from customers that include several of the

world's largest energy companies.

The Plaquemines expansion will be built incrementally in

three phases and consist of 32 modular liquefaction trains, the

company said.

Venture Global ( VG ) has also filed an application with the U.S.

Department of Energy for the export authorizations associated

with the additional planned capacity, the company said.