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Under the binding terminal use agreement, Venture Global has secured about 1 million tonnes per annum (mtpa) of LNG regasification capacity at the terminal for five years, beginning in 2025.
Venture Global’s capacity will account for about 25 percent of the total terminal capacity, or about 12 LNG cargoes annually, the US LNG producer said in a statement on Tuesday.
The firm said the deal enables the regasification and sale of LNG from Venture Global’s terminals in Louisiana to markets in Central and Eastern Europe.
Venture Global CEO Mike Sabel said the company is “thrilled” to expand its European regasification capacity at Greece’s new Alexandroupolis LNG terminal.
Earlier this year, Venture Global booked long-term capacity at National Grid’s Grain LNG import terminal in the United Kingdom.
Under this deal, Venture Global will have the ability to access 3 mtpa of LNG storage and regasification capacity at the Isle of Grain LNG receiving terminal for sixteen years beginning in 2029.
Sabel said this capacity booking at the Alexandroupolis terminal “further integrates our business by growing our assets across the LNG supply chain, including LNG production, shipping, and regasification.”
“As a major point of entry for LNG into Central and Eastern Europe, this strategically important infrastructure will be a game changer for the region’s ability to diversify their energy and access a secure and reliable energy supply. Venture Global is proud to support these efforts as a strategic partner with volumes from both Plaquemines LNG and the future CP2 LNG,” he said.
Plaquemines LNG and CP2 LNG
Venture Global LNG recently received approval from the US FERC to start reverse cooldown activities at its Plaquemines LNG export plant in Louisiana, as part of the terminal’s commissioning phase.
The company expects to start LNG production at its Plaquemines LNG plant in the Fall of this year.
Venture Global took a final investment decision in May 2022 on the first phase of the Plaquemines project with a capacity of 13.3 mtpa and the related pipeline. It also secured $13.2 billion in project financing.
In March last year, the company sanctioned the second phase of the Plaquemines LNG export plant in Louisiana and also secured $7.8 billion in project financing.
The full project, including the second stage, will have a capacity of 20 mtpa coming from 36 modular units, configured in 18 blocks.
Besides Plaquemines LNG, the US FERC has given the green light to Venture Global in June for its proposed CP2 LNG project in Louisiana.
The CP2 LNG plant will be located next to Venture Global’s existing Calcasieu Pass liquefaction plant in Louisiana, which is still in the commissioning phase.
It will have 18 liquefaction blocks, each with a capacity of about 1.1 mtpa of LNG, and also four 200,000-cbm full containment LNG storage tanks.
Besides the FERC approval, CP2 LNG also needs the non-FTA export authorization from the US Department of Energy.
Alexandroupolis FSRU to launch commercial ops
Gastrade recently told LNG Prime that the Alexandroupolis FSRU has completed final tests following an issue with the project’s pipeline.
“The COD (commercial operation date) is still planned for October 1, 2024, to coincide with the start of the next gas year,” the company said.
Greece’s converted FSRU arrived in Alexandroupolis from Singapore on December 17, 2023, while mooring hook-up was completed on December 23.
The 2018-built 174,000-cbm LNG carrier, GasLog Hong Kong, delivered on February 18 the commissioning cargo from the US to the 153,600-cbm FSRU, Alexandroupolis.
Gastrade’s shareholders include founder Copelouzou, DESFA, DEPA, Bulgartransgaz, and GasLog.
This is Greece’s first FSRU and the second LNG import facility, adding to DESFA’s import terminal located on the island of Revithoussa.
The Alexandroupolis LNG terminal will have a capacity of 5.5 bcm.
The FSRU is located in the sea of Thrace at a distance of 17.6 km SW from the port of Alexandroupolis and 10 km from the nearest coast of Makri.
It is connected to a high-pressure subsea and onshore gas transmission pipeline.
