Plaquemines LNG Coming Online, Will Hose Customers for 2 Years

According to a Reuters report, Venture Global’s Plaquemines LNG export facility (Plaquemines Parish, Louisiana) could start to liquefy natural gas as early as today. It will mark the first new U.S. LNG export plant to come online in two years. The 20 million metric tons per annum (MTPA) export plant was set to draw over 100 million cubic feet (MMcf/d) of natural gas for the first time yesterday. When fully online, it will use 2.6 billion cubic feet per day (Bcf/d) of natural gas. We suspect some (much?) of the gas comes from the Marcellus/Utica as the plant has an interconnection with the Texas Eastern Transmission Company (TETCO) pipeline---a pipeline that flows M-U gas southwest. However, we're not elated with the news of Plaquemines' startup.

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