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Venture Global Says Second Louisiana LNG Terminal Is A Go

Venture Global LNG said Wednesday it will proceed with construction of its proposed $8.5 billion liquefied natural gas (LNG) export terminal in Plaquemines Parish, LA.

Plaquemines LNG will be Venture Global's second major natural gas liquefaction and export project in Louisiana, joining the $4.5 billion Calcasieu Pass project, which was announced in Cameron Parish in December 2014 and is under development.

"The long-term prospects for the U.S. natural gas industry are bright, and Louisiana is well-positioned to capitalize on that success with ready access to natural gas supplies and deepwater access for shipping LNG to destinations worldwide," said Gov. John Bel Edwards. "This facility will have a major impact on the local and regional economies by providing hundreds of new high-paying jobs for our skilled workforce."

Plaquemines LNG will be capable of exporting 20 million metric tons per year of LNG. The complex will be on the west bank of the Mississippi River near Mile Marker 55, downriver of Myrtle Grove. The 632-acre site -- about 30 miles south of New Orleans -- includes 7,000 feet of river frontage and is owned by the Plaquemines Port Harbor and Terminal District.

Construction of the project is expected to begin in 2018 once it is authorized by FERC. Full operations are expected to begin in 2022.

Last March, Venture Global Plaquemines LNG LLC applied to the U.S. Department of Energy for free trade agreement (FTA) and non-FTA authorization to export LNG [16-28-LNG]. The Federal Energy Regulatory Commission approved the request of Plaquemines LNG to initiate its prefiling process in July 2015 [PF15-27]. The company has said it anticipates filing its formal application with FERC later this year.

Production from Venture Global's Calcasieu Pass LNG project, at the intersection of the Calcasieu Ship Channel and the Gulf of Mexico, could begin by late 2019, and full operations are expected to start in 2020. That facility will be able to liquefy about 1.4  Bcf/d of gas for export, with an annual capacity of 10 million metric tons.

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