Home / Business and Economy / Plaquemines LNG Plant Nears Full Operation
Plaquemines LNG Plant Nears Full Operation
2 Oct
Summary
- Plaquemines LNG plant requests federal approval to start Phase 1.
- Commercial operations could begin by October 31st.
- LNG prices remain high, averaging over $25 per MMBtu in September.
Venture Global's Plaquemines LNG facility in Louisiana is nearing the completion of its initial phase. The company has formally asked federal regulators for permission to place Phase 1 of the export plant into service, a crucial step before full commercial activities can commence.
This request follows successful commissioning operations. Venture Global indicated earlier that despite the elevated global LNG market, the plant would begin commercial operations by October 31st. The facility's upcoming launch coincides with significant global demand and high prices.
In September, European and Asian benchmark LNG prices averaged above $25 per million British thermal units. This price environment has benefited Venture Global during the Plaquemines plant's commissioning period. The Plaquemines facility is noted as the second-largest U.S. LNG export plant.
