Venture Global withdraws its application to build Delta LNG Plant, according to a filing

Venture Global has asked U.S. regulators to withdraw their application for the proposed 24 million tons per year Delta LNG export facility to be built in Louisiana. The company said it could build its proposed Plaquemines project faster.

Venture Global, the second-largest U.S. exporter of liquefied gas, has built new LNG plants faster than any other company. This is because they manufacture modular parts outside the U.S. before assembling them on site.

Venture Global stated in a Tuesday filing to the Federal Energy Regulatory Commission that pursuing the Delta LNG Project was not the best use for its corporate resources.

Venture Global reported that the company has decided to concentrate on the Plaquemines Expansion Project, which was accepted by the Commission in its pre-filing process on April 4.

The company stated that Venture Global LNG anticipates the Plaquemines Expansion Project to produce roughly the same amount of LNG as proposed Delta LNG Project but at a quicker pace.

The Plaquemines project expansion will amount to 18 million metric tonnes per year.

Venture Global said it would keep the land set aside for Delta if the market supported the revival of the Delta project. Bill Berkrot edited the report by Curtis Williams, reporting from Houston.

(source: Reuters)