Tanker docks at Louisiana Plaquemines LNG plant for cooldown, says LSEG, analysts (updated)

EnBW Energie Baden Wuerttemberg AG

23/08/2024 16:45

(Adds context and information on a second LNG tanker on its way
to export facility at paragraphs 1-3)
       Aug 23 (Reuters) - A tanker full of liquefied natural
gas (LNG) has docked at Venture Global LNG's Plaquemines export
plant in Louisiana, with  another vessel, the Kwangyang, on its
way to the facility, according to shipping data from LSEG on
Friday.
    The vessel docked at the port, the Qogir came from Norway
full of LNG, while the Kwangyang is arriving from South Keorea
at 78% of its capacity, according to LSEG data in what energy
analysts said was a sign the plant could start up in test mode
soon.
    When the Plaquemines' export plant comes into full
operations, Venture Global will become the second largest LNG
exporter in the U.S. and the plant will be the U.S. second
largest export facility with a capacity to produce 20 million
metric tons per annum (MTPA) of the superchilled gas.
    LNG plants under construction, like Plaquemines, use
superchilled fuel to test and cool equipment in preparation for
startup.
    After Plaquemines started pulling in small amounts of
natural gas from U.S. pipelines in late June, analysts said the
plant could start turning gas into small amounts of LNG in test
mode in coming months.
    Plaquemines took in small amounts of pipeline gas for
several days in late June and then again in mid-July, and was on
track to pull in the fuel for 25 days in a row on Friday,
according to LSEG data.
    As part of its testing process, Venture Global sought
permission in early July from the U.S. Federal Energy Regulatory
Commission (FERC) to introduce gas to a gas turbine generator as
part of its testing process. FERC regulates U.S. interstate gas
pipelines and LNG terminals.
    Officials at Venture Global were not immediately available
for comment. The company has said building the two phases at
Plaquemines would entail an investment of about $21 billion.
    Analysts have said they expect Venture Global to complete
work on the first 1.8-billion cubic feet per day (bcfd) phase of
Plaquemines from 2024 to 2026 and the second 1.2-bcfd phase from
2025 to 2026. 
    The United States is already the world's biggest LNG
exporter with seven export plants able to turn about 13.8 bcfd
of gas into about 104.6 million tonnes a year (MTPA) of LNG. One
billion cubic feet is enough gas to supply about five million
U.S. homes for a day.    
    Analysts expect U.S. LNG export capacity will rise to around
17.0 bcfd of gas or 129.4 MTPA of LNG in mid-2025 as the first
phase of Plaquemines and Cheniere Energy's  LNG.N  expansion at
its Corpus Christi, Texas plant start to enter service in 2024.
    Venture Global has said Plaquemines' customers include units
of Exxon Mobil  XOM.N , Chevron  CVX.N , EnBW Energie Baden
Wuerttemberg  EBKG.DE , New Fortress Energy  NFE.N , PETRONAS,
China Gas Holdings  0384.HK , Excelerate Energy  EE.N , Polish
Oil and Gas, China Petroleum and Chemical (Sinopec)  600028.SS ,
China National Offshore Oil Corp, Shell  SHEL.L  and Electricite
de France.
    

 (Reporting by Scott DiSavino in New York and Curtis Williams in
Houston; Editing by Susan Fenton and David Evans)
 ((scott.disavino@thomsonreuters.com; +1 332 219 1922; Reuters
Messaging: scott.disavino.thomsonreuters.com@reuters.net))