Venture Global has announced it will invest an additional $18 billion to expand its liquefied natural gas facility south of New Orleans in Plaquemines Parish. Venture CEO Mike Sabel said the LNG export facility will increase annual shipments from 27 million tons to over 45 million.
“With this new planned expansion, Plaquemines will become the largest LNG export facility built in North America,” said Sabel. “Supplying LNG to our allies will make a substantial impact on the US balance of trade.”
The facility was approved by President Donald Trump in 2019, along with the company’s first facility, Calcasieu Pass in Cameron Parish, which can process over 12 million metric tons of LNG every year. US Energy Secretary Chris Wright said the fastest growing source of energy is natural gas and Louisiana plays a major role.
“In he next several years, Louisiana will become a larger exporter of liquified natural gas than any nation on earth. You could be your own country and be No. 1,” said Wright.
Venture said the Plaquemines LNG expansion will continue to support hundreds of new, permanent Louisiana jobs and tens of thousands of indirect subcontractor, part-time and full-time jobs throughout the state and across the country. Wright said the expansion of this facility is a signal to the rest of the world that American energy dominance is back.
“Unleash American energy, unleash American business and unleash the American spirit, and I see it here today with all of you,” Wright said.
Climate activists say LNG expansion will worsen emissions, and the Biden Administration raised concerns that “unfettered” exports would raise domestic prices.
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