By Deanna B. Narveson businessreport.com
Venture Global LNG today announced plans to invest more than $10 billion in a new liquefied natural gas facility in Cameron Parish that will employ carbon capture and sequestration technology to reduce carbon dioxide emissions.
The project will result in at least 200 direct new jobs, with average annual salaries of $120,000, plus benefits, according to Louisiana Economic Development. At the peak of construction, roughly 2,300 construction jobs will be created.
Venture Global’s new facility, named CP2, will have a nameplate capacity of 20 million metric tonnes per annum of LNG. The CCS process will be used to capture and store underground an estimated 500,000 tons of CO2 emissions from the facility annually. The complex will be on 650 acres in Cameron, including 170 acres on Monkey Island, providing CP2 with direct access to the deep-water Calcasieu Ship Channel.
The site will be constructed in two phases and will include 18 liquefaction blocks, four 200,000-cubic-meter full-containment LNG storage tanks, two marine loading berths, and two on-site combined cycle gas turbine power plants. The CP Express pipeline will deliver natural gas to the facility.
Venture Global CEO Mike Sabel says the new facility will be adjacent to the company’s existing Calcasieu Pass terminal. The two projects represent more than $20 billion in investment in the state.
Headquartered in Arlington, Virginia, Venture Global LNG is a global provider of U.S. LNG. Two of Venture Global’s wholly owned subsidiaries will build, own and operate the new LNG plant. Venture Global is constructing or developing several other facilities in Louisiana including the Calcasieu Pass facility, also in Cameron, and the Venture Global Plaquemines LNG project in Plaquemines Parish. The company is expected to utilize Louisiana’s Quality Jobs and Industrial Tax Exemption programs.
CCS is going to be a coming thing in the near future. It will be a hard sell to many folks out there that own land and minerals. I have done a lot of research on this subject for the past several months. The Blue Hydrogen plant that was announced a while back for Southeast Louisiana will use CCS. I have read that the gulf coast states are the best places to use this technology with Louisiana being by far the best.
Thanks, TD'P. First the trend was ESG (environmental, social and governmental). Then certified molecules. And now CCS. Sometimes with a U on the end for utilization. Carbon capture and sequestration at this point seems like more of public relations attempt with little proven benefit. Hopefully it will become more efficient and cost effective.
In 2009 Jindal signed a bill that said if you have 75% of a CCS unit in agreement you would be able to expropriate the remaining 25%. That is going to fly with the folks like a lead balloon.