Venture Global LNG Inc. has executed a binding 16-year terminal use agreement with National Grid Group’s Grain LNG terminal enabling the regasification and sale of LNG from all of Venture Global’s plants in Louisiana, including its 20-million tonne/year (tpy) CP2 LNG project, subject to obtaining necessary federal permits. Venture Global will have access to 3 million tpy of LNG storage and regasification at the Isle of Grain terminal beginning in 2029.
National Grid is expanding Grain LNG’s storage capacity to 1.2 billion cu m by adding a new 190,000-cu m storage tank. The expanded terminal will have enough throughput to meet roughly one third of the UK’s gas demand, according to the company.
QatarEnergy has also booked capacity in Grain LNG’s expansion, starting in 2025 when National Grid expects construction to be complete.
Venture Global is shipping cargoes from its 10-million tpy Calcasieu Pass LNG plant in Cameron Parish, La. Its 20-million tpy Plaquemines LNG and CP2 plants are both under development.
The company says 75% of its exports to date have been shipped to Europe. The UK has a free-trade agreement with the US, placing the Venture Global-Grain LNG agreement outside the Biden administration’s recent pause on pending LNG plant decisions by the Department of Energy (OGJ Online, Jan. 30, 2024).