(Reuters) -U.S. liquefied natural gas company Venture Global LNG will be ready to build a proposed carbon capture and storage (CCS) facility for its LNG export plants in Louisiana as soon as the permits are ready, Chief Executive Michael Sabel told Reuters on Wednesday.
“We don’t need any new technology to do it. We don’t need any additional outside funds to do it. We’re able to do it as soon as the permitting process allows us to go forward,” Sabel said of the proposed CCS project in an interview at the Reuters Events Global Energy Transition conference.
Venture Global said in late May that it plans to build the CCS project at its Calcasieu Pass and Plaquemines export plants in Louisiana.
This is part of a growing trend among energy companies to reduce greenhouse gas emissions and meet increased customer and government demand for cleaner energy to reduce damage caused by climate change.
Demand for supercooled LNG has surged in recent years and is expected to keep growing in the future as large energy-consuming nations like China and India meet growing demand for energy and wean themselves off dirtier coal.
Analysts have estimated the cost of Calcasieu at around $4.5 billion and said it could start producing LNG in test mode as soon as late 2021.
Venture Global has said it expects to make a financial close on Plaquemines in mid-2021 with the plant entering commercial service in 2024.
Venture Global is building or developing over 50 million tonnes per annum (MTPA) of LNG production capacity in Louisiana, including the 10-MTPA Calcasieu Pass, which is expected to enter commercial service in 2022.
The company also has several plants in various stages of development, including a second 10-MTPA phase at Plaquemines, two 10-MTPA phases at Delta and two 10-MTPA phases at CP2 next to the Calcasieu site.
(Reporting by Scott DiSavino; editing by Jason Neely and Jonathan Oatis)
