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Venture Global has executed two short-term charters for additional LNG tankers.
The vessels were delivered in August and September 2024, bringing its total shipping portfolio to a total of eleven LNG carriers.
Venture Global revealed these charters in its IPO registration statement filed with the US SEC last week.
However, the company did not provide any additional details regarding the charters or the names of the vessels.
Spot LNG shipping rates began to decline in August this year and are now at a record low for this time of the year, mainly due to a high number of newbuilds coming into the market.
In March this year, Venture Global announced it it has nine LNG carriers on order in South Korea, further advancing the integration of its business across the entire LNG supply chain.
Six of these vessels have a cargo capacity of 174,000 cbm, and three have a cargo capacity of 200,000 cbm.
The LNG carriers are being built at South Korea’s Samsung Heavy and Hanhwa Ocean.
Samsung Heavy already delivered the 174,000-cbm Venture Gator and Venture Bayou to the US LNG exporter.
Venture Global noted in the registration statement, which has 299 pages, that the remaining LNG tankers are scheduled to be delivered on a rolling basis through 2026.
Optimizing LNG marketing and sales
Venture Global said it is assembling a fleet of at least 11 LNG tankers to provide additional optionality to spot and term customers and to service contracts with transportation or delivery components.
The company has also acquired firm regasification capacity at UK’s Grain LNG terminal, Europe’s largest regasification terminal, to import 42 LNG cargoes per year from 2029 until 2045.
Additionally, the company has secured about 1 mtpa of LNG regasification capacity at the new Alexandroupolis FSRU-based terminal in Greece for five years, beginning in 2025, which equates to about 12 cargoes annually.
“We believe that such shipping and regasification capabilities will support our ability to optimize LNG marketing, sales, and logistics to reach new markets and customers,” the company said.
As previously reported, the company revealed in the registration statement it plans to boost its export capacity to 104.4 mtpa via five projects by 2034.
Venture Global said its five current projects are being designed to deliver a total expected peak production capacity of 143.8 mtpa, which consists of an aggregate of 104.4 mtpa expected nameplate capacity and an aggregate of 39.4 mtpa of expected excess capacity.
The firm currently exports LNG from its Calcasieu Pass Pass in Louisiana, which is still in the commissioning phase, and it recently started production at its Plaquemines LNG export plant in Louisiana.
Besides these two projects, Venture Global is working on the proposed CP2 LNG project in Louisiana, the Delta project, and the newly revealed CP3 project.
