Venture Global Announces Fleet of State of the Art LNG Vessels
First vessels to be delivered this year
HOUSTON, March 17, 2024 /PRNewswire/ -- Today, Venture Global LNG announced the acquisition and construction of a new large fleet of LNG-powered vessels. Venture Global's fleet will include nine vessels, currently under construction in South Korea, that will be delivered starting later this year. Six vessels will have a cargo capacity of 174,000 m3 and three a cargo capacity of 200,000 m3. All nine ships will deploy best-in-class environmental and efficiency technology and will be primarily fueled by Venture Global's liquefied natural gas.
"Venture Global is pleased to announce our new fleet of world-class, next generation LNG vessels, further strengthening our growing role as a major global energy provider. This investment builds on our recent execution of a long-term terminal use agreement for regasification capacity at Europe's largest LNG import terminal, further advancing the integration of our business across the entire LNG supply chain; from natural gas transmission, to liquefaction and export, to best-in-class LNG cargo ships and regasification capacity. This will be complementary to our core business as a supplier to long-term customers while also enabling optimization and optionality by allowing for the transport of LNG directly to the customer's point of need. We are sending a strong signal to the global market of our long-term commitment to meeting the world's growing energy demand at a large scale, bolstering the security of our customers and allies by providing them with clean, affordable, and reliable U.S. LNG as efficiently as possible," said Venture Global CEO Mike Sabel.
The vessels are propelled by the latest 2-stroke MEGA/MEGI engines which, in combination with the use of the most recent hull forms, shaft generator and air lubrication systems, result in the highest fuel efficiency and lowest GHG emissions based on currently available LNG carrier technology. The selected main engine type supported by the shaft generator technology significantly reduces methane slip compared to the previous generations of 2-stroke and 4-stroke propelled LNG carriers. LNG vessels are mainly powered by natural gas which is cleaner-burning than traditional fuel oil. Pollutants like nitrogen oxides and sulfur oxides are significantly reduced, and CO2 emissions are 25% lower than CO2 emissions from ships powered by fuel oil.
About Venture Global
Venture Global is a long-term, low-cost provider of U.S. LNG sourced from resource rich North American natural gas basins. Venture Global's first facility, Calcasieu Pass, commenced producing LNG in January 2022. The company's second facility, Plaquemines LNG, is under construction and expected to produce first LNG in 2024. The company is currently constructing and developing over 70 MTPA of nameplate production capacity to provide clean, affordable energy to the world. Venture Global is developing Carbon Capture and Sequestration (CCS) projects at each of its LNG facilities.
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