Venture Global closer to FID at Plaquemines LNG project
US LNG developer Venture Global said April 29 it formed a new partnership with engineering firm Zachry Group to facilitate development of the planned Plaquemines LNG export project in Louisiana.
Venture in November awarded the engineering, procurement and construction (EPC) contract for Phase 1 of the LNG project to engineering and construction firm KBR. Through a new joint venture with KBR and Zachry Group, dubbed KZJV, the partners will work together to execute the EPC contract.
“KZJV will integrate highly modularized, owner-furnished equipment for the 10mn mt/yr nameplate facility, identical to the systems being successfully delivered and installed at Venture Global LNG’s Calcasieu Pass project,” Venture said. “Construction of this project will result in thousands of jobs.”
The Calcasieu Pass is Venture’s first LNG facility in Louisiana. Plans there call for an 18-train, 10mn mt/yr terminal.
Venture in February secured a $500mn term loan with a banking syndicate led by JPMorgan Chase that it will use, in part, to fund pre-FID construction activities at Plaquemines.
Plaquemines LNG has received all regulatory approvals and has binding offtake agreements with Poland’s PGNiG and French utility EDF for a total of 3.5mn mt/yr from Phase 1. A final investment decision (FID) on the liquefaction terminal and its companion Gator Express pipeline project is not expected until financial close, which according to a timeline on the project’s website is anticipated by mid-2021.