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Venture Global LNG Plans $8.5 billion Natural Gas Liquefaction Plant In Plaquemines Parish, Louisiana

12/22/2016
Venture Global LNG will invest $8.5 billion to develop a natural gas liquefaction facility and LNG export terminal in Plaquemines Parish, Louisiana. Plaquemines LNG will create 250 new jobs.

Plaquemines LNG will be built to an export capacity of 20 million metric tons per year. The complex will be located 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.

“From the very inception of our LNG export terminal project in Cameron, Venture Global LNG was and remains convinced that Louisiana is the best place in the United States to develop such important infrastructure projects,” said Venture Global co-CEO Bob Pender said. “We have been delighted with the state’s supportive environment, unified regulatory approach, and skilled and qualified workforce. We are proud to now be developing a second LNG facility, to be located in Plaquemines Parish, Louisiana. Plaquemines LNG will invest billions in new facilities, equipment and labor and bring thousands of temporary and hundreds of permanent jobs to the state.”

The company is expected to utilize the state’s Quality Jobs and Industrial Tax Exemption programs. Construction of the Plaquemines LNG project is expected to begin in 2018, once the project is authorized by the Federal Energy Regulatory Commission. Full operations are expected to begin in 2022.

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 that was announced in Cameron Parish in December 2014 and is under development.

“The support we received from the communities of Cameron and Plaquemines, along with a fair and consistent approach from regulators, reinforced our decision to expand our commitments in Louisiana,” added Venture Global Co-CEO Mike Sabel. “Together, Plaquemines LNG and Calcasieu Pass will supply the world’s growing demand for low-cost, clean and reliable North American energy.”

Governor John Bel Edwards said, “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. 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.”

“Venture Global will strengthen our region’s economy and send a strong signal that Louisiana remains one of the best choices for business because of its friendly business climate and unparalleled logistics,” said Michael Hecht, CEO of Greater New Orleans Inc.

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