Redefining the LNG Industry
LNG industry costs have been on a steady rise and have outpaced general oil and gas industry costs over the last decade. Historically, the rising capital costs for greenfield LNG projects have been passed through to the LNG buyers. Venture Global is addressing this challenge directly by achieving significant cost reduction and passing it onto customers while enhancing operational reliability and efficiency.
The world needs clean, low-cost energy which can complement renewables. This is the time to provide plentiful North American gas to our allies and friends around the globe.Robert Pender, Co-Chairman & Co-CEO, Founder Venture Global LNG
If you are an Asian utility assembling an LNG supply portfolio, you must layer different pricing mechanisms. Venture Global's low price and reliable supply offers a significant opportunity to build stable supply portfolios for Asian customers.Stephen Del Regno, Senior Vice President of VG LNG Marketing
An International Player
With offices around the world, including Tokyo, London, Houston and Washington, D.C., Venture Global has a global presence so that we can best serve our customers. Our goal is to listen to our customers and help them lower their portfolio average price by passing on cost savings.
Standard Setting Design
We believe the design model we have deployed will one day be industry standard, with mid-scale, modular plant design replacing the traditional plant configurations in the United States. Through mid-scale, we maximize the ability of our suppliers to manufacture and assemble much of our projects offsite in a factory-like setting. This type of production allows for higher efficiency and tighter standards. The controlled setting also assures higher quality work and a more consistent and more predictable production. Further, we anticipate that we will have a faster start-up than more traditionally designed plants, as our equipment requires substantially shorter delivery times.
Mid-scale technology uses significantly less custom built parts and relies on tubing, steel work compressors and other components that are readily available in the U.S. market from multiple vendors. The competition between suppliers and the lower complexity in the production of these parts allows for significant cost savings when procuring material for construction as well as spare parts during operation.
Our model is fundamentally different from more common, highly customized, ‘stick-built’ projects that are constructed almost entirely onsite. Other U.S. projects have typically adapted plant designs used elsewhere in the world where remote locations and hostile environments are common.
Our facilities are located in close proximity to several major interstate natural gas pipelines and are situated in the middle of one of the most active trading areas for natural gas in North America, giving us an abundant supply of pipeline-quality natural gas. Henry Hub, one of the most liquid trading points and distribution hubs on the natural gas pipeline system, sits between our two proposed project sites. Our modular components and location give us a real advantage in terms of availability of labor, suppliers, and reliable transport.
Venture Global believes that natural gas is the fuel source of the future and intends to deliver that fuel to the world. With lower costs for LNG, more consumers will realize the environmental benefits of clean-burning natural gas.