Shell Doubles US Venture LNG Purchase

Anglo-Dutch major Shell has doubled its planned offtake from Venture Global LNG's planned export terminal in Calcasieu, Louisiana, to 2mn metric tons/year, the US-based company said March 6. The total offtake commitment is now 3mn mt/yr for 20 years as Italy's Edison, part of French state-controlled EDF, has contracted to buy 1mn mt/yr expected to start in 2021.

Venture Global said: Shell's additional purchase "is a huge milestone, we believe a breakout event, and a significant validation of our best in class approach on our path to commencement of construction later this year. We are delighted that we continue to execute and achieve our development targets as we implement our strategy, alongside world-class partners, to become one of the lowest cost producers of LNG to the world’s most important energy customers.”

Venture Global LNG is developing both the 10mn mt/yr Venture Global Calcasieu Pass and the 20mn mt/yr Venture Global Plaquemines LNG facility in Plaquemines Parish. So far it has announced funding of $470mn.

Artist's impression of Venture Global's planned export terminal in Calcasieu (Credit: the company)