Venture Global LNG has signed an agreement with GE Oil & Gas for providing a plant-wide technology solution for its liquefied natural gas (LNG) export facilities currently under development in Louisiana.
Under the agreement, GE Oil & Gas will utilise advanced technologies from its portfolio to provide a comprehensive power, pre-treatment and LNG liquefaction system.
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The agreement elucidates the schedule, price and performance standards of the LNG process system to be delivered by GE Oil & Gas.
Venture Global LNG co-CEOs Mike Sabel and Bob Pender said: “This transaction is an LNG industry precedent-setting event. It will materially reduce project costs and risks and accelerate dramatically construction schedules.
“GE Oil & Gas is committed to this market and their product suite. This, combined with their proven excellence in assembly, fabrication and service solutions, aligns with our low-cost strategy.
“GE Oil & Gas is a world-class company and an excellent partner who shares our vision for the future of baseload plants built with highly efficient, mid-scale liquefaction blocks.”
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By GlobalDataVenture Global LNG intends to produce low-cost LNG in the US by leveraging on an effective LNG liquefaction technology.
GE Oil & Gas turbomachinery CEO Rod Christie said: “Our advanced technologies and outcome-based service agreement are an ideal fit for Venture Global LNG's low-cost strategy.
“As a recognised technology leader in the LNG industry, we share Venture Global LNG's desire to innovate technically and operationally to deliver the LNG facilities of the future.
“Our track record in the LNG space positions us well as a partner that will deliver this comprehensive mid-scale solution, which incorporates a GE LNG process system, compression, electric motors, power generation, pre-treatment and electrical distribution.
“In addition to our technology and services, we are pleased to provide capital to invest in and help expedite the project.”
Venture Global LNG is currently developing two facilities.
The first, 10 MTPA Venture Global Calcasieu Pass facility, is located at the intersection of the Calcasieu Ship Channel and the Gulf of Mexico.
The second, 20 MTPA Venture Global Plaquemines LNG facility, is situated in Louisiana on an approximately 630-acre area.
