US liquefied natural gas (LNG) provider Venture Global signed an equipment supply agreement on Monday with US-based oil field service company Baker Hughes to increase the company's production by more than 40%.
As part of the deal, Baker Hughes will provide Venture Global with liquefaction train systems and power island systems for the latter's future LNG export projects.
With the company’s long-term expansion plan, Venture Global aims to boost its LNG production from 70 million tonnes per annum (mtpa) to over 100 mtpa.
Venture Global will expand LNG production both in and outside of Louisiana, adding to its first three projects: Calcasieu Pass, Plaquemines LNG and CP2 LNG, Mike Sabel, CEO of Venture Global, was quoted as saying in a statement.
The company is a long-term, low-cost provider of US LNG that is sourced from North America's resource-rich natural gas basins.
Its first LNG export facility, at Calcasieu Pass in Cameron Paris, Louisiana, commenced LNG production in January last year.
Cargoes from the Calcasieu Pass project have been supplied to 24 nations, accounting for around 10% of the LNG exported from the US to Europe in 2022 and 2023.
Venture Global's second facility, Plaquemines LNG in Plaquemines Parish, Louisiana, is under construction and expected to produce its first LNG in 2024.
The company also expects to commence construction of its CP2 LNG facility in Cameron Parish, Louisiana, later this year, following approval from the independent federal agency that regulates energy markets in the US, FERC.
By Duygu Alhan
Anadolu Agency
energy@aa.com.tr