Shell receives first commercial LNG cargo from Venture Global’s Plaquemines plant
Shell was the inaugural buyer of LNG from Venture Global’s Plaquemines export facility in Louisiana after the plant completed phase‑one commissioning. The Malaga Knutsen tanker loaded the cargo and departed at 03:26 (09:26 GMT) on Sunday. Venture Global’s CEO said the project reached commercial operations in 53 months, and the contracts are priced well below recent European and Asian spot highs.
Why it matters
The discounted contract pricing, below recent peaks of about $34 per mmBtu in Europe and $32 per mmBtu in Asia, should improve Shell’s cost base for LNG and support the growth of U.S. LNG exports, which may influence regional gas markets.
Key facts
- 1Shell received the first commercial LNG cargo from Venture Global’s Plaquemines plant. bairdmaritime.com
- 2Phase‑one commissioning was completed on Saturday, 22 months after the facility first produced LNG. bairdmaritime.com
- 3The Malaga Knutsen tanker departed at 03:26 (09:26 GMT) on Sunday with the cargo. bairdmaritime.com
- 4Venture Global CEO Mike Sabel said the project achieved commercial operations in 53 months. bairdmaritime.com
- 5Contract prices are significantly discounted from near‑46‑month highs of around $34 per mmBtu in Europe and $32 per mmBtu in Asia. bairdmaritime.com
- 6Venture Global is now the second‑largest LNG producer in the United States. bairdmaritime.com
Summary written by AlphAI AI Desk from 2 of 2 sources. Not investment advice. Figures are as stated by the linked sources.