May 30, 2022 [Reuters] – Canadian energy company Enbridge Inc (ENB.TO) said on Thursday it would build a pipeline project to supply natural gas to Venture Global LNG’s Plaquemines liquefied natural gas (LNG) export facility in Louisiana.
On Wednesday, Venture Global said it made a final investment decision (FID) to build the first phase of its proposed Plaquemines plant. read more
That decision comes as gas prices and LNG demand have soared to record highs around the world to meet growing use of the fuel in Asia and as European countries seek to break their dependence on Russian gas after Moscow’s Feb. 24 invasion of Ukraine.
Plaquemines is the first U.S. LNG project to reach financial close since Venture Global’s Calcasieu Pass in August 2019. Calcasieu delivered its first LNG earlier this year.
The first phase of the 20-million-tonne-per-annum (MTPA) Plaquemines project will produce about 13.3 MTPA of LNG or 1.75 billion cubic feet per day (bcfd) of natural gas.
One billion cubic feet is enough gas to supply about five million U.S. homes.
Enbridge said its Gator Express Meter and Venice Extension projects would supply about 1.5 bcfd of gas to Plaquemines.
Enbridge said it expected Gator Express to enter service in 2023 and the Venice Extension in 2024, with an estimated cost for both projects of $400 million.
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