Another LNG cargo ship is headed towards Germany, as the United States increases its natural gas exports to Europe.

date
28/12/2024
avatar
GMT Eight
The United States is trying to gradually replace Russia's natural gas exports to Europe. According to reports, the eighth liquefied natural gas (LNG) export facility in the United States began exporting this week, and the first LNG tanker has set sail for Europe. Analysts say that this move further solidifies the United States' position as a leading global exporter of liquefied natural gas, and currently, Trump is actively promoting Europe to increase its purchase of American energy products. As one of the largest liquefied natural gas developers in the United States, Venture Global has shipped its first batch of LNG from its export facility in Plaquemines, Louisiana, using its own tanker "Venture Bayou." According to ship tracking data, this newly built tanker is transporting goods to the German utility company EnBW, and the goods are expected to arrive in early January. Venture Global stated in a press release that the Plaquemines export facility is currently constructing and commissioning 36 liquefied natural gas production units and related facilities. During this time, the Plaquemines export facility will continue to produce and export liquefied natural gas. Currently, the Plaquemines facility has multiple long-term customers, including European utilities such as Electricite de France, Polish energy company Orlen SA, Shell, and others. According to Venture Global's project schedule, the Plaquemines liquefied natural gas facility is expected to be fully operational by the end of 2025 or early 2026, and is expected to become one of the largest LNG export plants in the world. In addition, Venture Global has applied for an IPO, with analysts at JPMorgan estimating the company's valuation at around $100 billion. Venture Global CEO Mike Sabel said in a statement, "In just five years, Venture Global has successfully constructed, produced, and commissioned the exports of two large LNG projects, which is unprecedented in the industry." Analysts say that this development is significant as American liquefied natural gas has been proposed as an alternative to Russian natural gas pipelines to Brussels. Obviously, this event will also make Trump happy recently, Trump threatened Europe that if they do not increase their purchase of American energy products, tariffs will be imposed next year. In response to this, analysts at Goldman Sachs say that American liquefied natural gas can "theoretically" replace Russian pipeline natural gas in the EU market. This article is edited from "Wall Street Seen", GMTEight Editor: Zhang Jinliang.

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