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Venture Global lifts LNG liquefaction fees as Middle East disruptions surge
The U.S. LNG exporter said liquefaction fees rose 69% to $6.45 per mmBtu in the second quarter, citing war-related LNG flow disruptions in the Middle East.
Venture Global said its liquefaction fees jumped 69% in the second quarter to $6.45 per million British thermal units, up from $3.82 per mmBtu in the first quarter, as war-related LNG flow disruptions in the Middle East pushed up spot market costs, OilPrice reported.
In a regulatory filing cited by Reuters, the company said it generated revenue from sales totaling 466.4 trillion thermal units in the second quarter, down from 480.8 TBtu in the first quarter.
Venture Global’s Calcasieu Pass LNG plant exported 37 cargoes in the second quarter, while its Plaquemines plant exported 90 cargoes, compared with 38 Calcasieu Pass cargoes and 92 Plaquemines cargoes in the first quarter, Reuters added.
Calcasieu Pass, the company’s first LNG export facility, began production in 2022, and the company said it has more than 100 million tonnes per annum of LNG capacity across projects in operation, construction, or development. Plaquemines began operation late last year and was still under construction, with an official launch scheduled for 2027, according to the report.