Venture Global CEO: We have enough LNG to last for a long time.

Venture Global, a liquefied natural 'gas exporter, is working with countries all over the world to deliver vital cargoes. CEO Mike Sabel made this statement on Tuesday - at the CERAWeek conference in Houston. The world was reeling from the attacks on energy infrastructure during the U.S. - Israeli war against Iran. The price of oil and gas has risen following the closure of the Strait of Hormuz, and the attacks on energy infrastructure in the Middle East. QatarEnergy reported that a strike on its LNG 'plant' has caused 17% of the capacity to be lost for up to 5 years. This could threaten supplies to Europe and Asia.

Venture Global is America's second largest LNG exporter. The company has stated that 31% of its LNG production has not been contracted for long-term, which creates an opportunity to sell LNG in Asia to countries affected by supply disruptions due to war.

The company stated that it had?adequate long-, medium and short-term supplies? to support the market and was willing to enter into contracts for short periods with potential LNG purchasers.

Sabel added that it is important to vary the length of contracts for supply.

Sabel'said that Venture?Global, while constructing the 20 million metric ton per year CP2 LNG Plant, is preparing its expansion by ordering new equipment.

Venture Global believes it can become America's largest LNG exporter in 2029 by increasing its capacity from 37 mtpa up to 85 mtpa. This is based on the expansions of CP2 and Plaquemines, as well as higher production than nameplate capacity.

Louisiana Governor Jeff Landry also spoke at this event. He said that his state will not limit how many LNG plants are built in the state.

Landry stated that the lack of workers is the biggest obstacle to the continued growth of LNG in Louisiana.

(source: Reuters)