Plaquemines LNG

Natural gas price volatility hit an all-time record earlier this year and remains elevated on weather-driven demand and soaring LNG exports, among other factors, according to the Energy Information Administration (EIA).  EIA said volatility, a measure of how much daily prices change, reached its highest level in 20 years in February. The 30-day historical volatility…

Baker Hughes Co. (BKR) management on Wednesday offered a bullish assessment of natural gas growth opportunities but conveyed a more measured outlook for the oil market. “Overall, we remain very positive on the outlook for natural gas,” Baker Hughes’ CEO Lorenzo Simonelli told analysts during the oilfield services (OFS) giant’s 2Q2022 earnings call. “We also…

Venture Global LNG Inc. has netted another sales and purchase agreement (SPA) for its proposed Plaquemines liquefied natural gas (LNG) terminal with a major Asian buyer, pushing the project’s contracted offtake to the 80% mark. A 1 million metric ton/year (mmty) 20-year contract was announced Wednesday with a subsidiary of Malaysia’s state-owned Petroliam Nasional Berhad,…

Venture Global LNG Inc. is progressing its planned liquefied natural gas (LNG) projects in Louisiana after securing twin offtake agreements with an ExxonMobil affiliate. The Arlington, VA-based company inked two 20-year sale and purchase agreements (SPA) for a combined 2 million metric tons/year (mmty) with ExxonMobil Asia Pacific Pte Ltd. The affiliate may split the…

The still unfolding situation in Europe has “accelerated the pace of discussions” to sanction global liquefied natural gas (LNG) projects,” Baker Hughes Co. CEO Lorenzo Simonelli said Wednesday. Simonelli shared first quarter results and the outlook for 2022 and beyond for the Houston-based oilfield services giant.  “We already saw momentum pick up in 2021” for…

Venture Global LNG Inc. is continuing its hot streak of long-term sales and purchase agreements (SPAs) for liquefied natural gas (LNG) with two new deals announced Wednesday, one of which foreshadows a greenlight for the Plaquemines LNG terminal, according to the company. The Arlington, VA-based LNG exporter has inked two 20-year SPAs to supply New…

Repsol SA has agreed to purchase liquefied natural gas (LNG) from Venture Global LNG Inc.’s Plaquemines export project in Louisiana.  The Spanish-based energy major agreed to the deal in January. Repsol would take 18.25 Bcf of LNG over three years, according to a filing with the U.S. Department of Energy. Initial construction activities started in…

Venture Global LNG Inc. has signed an agreement to supply a subsidiary of China National Offshore Oil Corp. (CNOOC), China’s largest liquefied natural gas (LNG) importer, with 3.5 million metric tons/year (mmty) of the super-chilled fuel for a 20-year term.  Venture Global would supply CNOOC with 2 mmty of LNG on a free-on-board basis from…

Venture Global LNG Inc. has reached a deal to sell nearly 8 million metric tons/year (mmty) of liquefied natural gas (LNG) to China Petroleum & Chemical Corp., aka Sinopec, in deals representing the largest supply agreement ever signed by a U.S. gas exporter.  The 20-year deals, publicly announced on Thursday, also represent the largest supply…