Venture Global has announced the commercial start up date for its first LNG export project – Calcasieu Pass.
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Calcasieu Pass has reached this milestone in just 68 months from the project’s final investment decision (FID), making it among the fastest greenfield LNG projects completed, the developer claimed.
Venture Global added that the project’s multi-billion-dollar contracts will have a significant positive impact on the US balance of trade with several European allies.
Due to its innovative, first-of-its kind configuration consisting of many mid-scale, modular liquefaction trains and process facilities that were delivered and installed sequentially, as well as Venture Global’s owner-led approach to construction, the project was able to overcome significant unforeseen challenges, including a global pandemic, two hurricanes, and a force majeure event that arose, due to major manufacturing issues with the facility’s power island.
Having completed a multi-year rectification and remediation of the plant’s key components that underpin the redundancy features contained in the project’s design, Calcasieu Pass is now ready to operate safely and reliably.
“I am incredibly proud of our team who have worked relentlessly and diligently to successfully construct and commission our first LNG project,” said Venture Global CEO, Mike Sabel. “We are excited to reach this milestone and are grateful for our regulators and supply chain partners who have worked with our team to reach commercial operations as efficiently and safely as possible.”
Venture Global also claimed that its long-term sales and purchase agreements (SPA) for Calcasieu Pass were among the most attractive price points for customers in the world, with average liquefaction fees under $2 per MMBtu.
Its long-term customers will benefit from low-cost North American LNG for the full duration of their 20-year contracts, the company added.
Portuguese energy company Galp confirmed that it had lifted the first LNG cargo from Calcasieu Pass on 15th April, 2025, under a long term SPA.
Galp said that the first cargo signalled the start of the take-or-pay rights and obligations agreed in the 20-year SPA, signed on 2nd May, 2018, with Venture Global LNG, for 1 mill tonnes per annum, from Calcasieu Pass.
Meanwhile, South Korean sources have said that Venture Global is considering contracting up to 12 LNGCs from South Korean shipbuilders to add to the nine already on order.
The company recently visited the country to inspect shipyards operated by HD Hyundai Heavy Industries, Hanwha Ocean, and Samsung Heavy Industries—the so-called ‘Big Three’ of the domestic shipbuilding industry.
These visits were said to be part of ongoing negotiations that could lead to a firm contract by the end of June.
The initial contracts are expected to involve four LNGCs with capacities ranging from 174,000 to 180,000 cu m.
Options will also be agreed to secure an additional eight vessels, bringing the total potential order value to Won4.3 trill (around $2.9 bill).
Last year, South Korean shipyards secured 70% of global LNGC orders.
Elsewhere, South Korea’s SK Securities said in a note about Hanwha Ocean’s financial prospects, said; "The possibility of securing LNG orders for the Rio Grande LNG project in the US by NextDecade, is high.
"Due to US sanctions on China's shipbuilding industry and the anticipated implementation of a high-intensity carbon tax system by the IMO, a prolonged cycle is expected to continue," SK Securities said.
