Venture Global Launches State-of-the-Art LNG Vessel

ARLINGTON, Va.— Venture Global has launched the first of nine new liquid natural gas vessels, celebrating the event with a ceremony at the Samsung Heavy Industries shipyard in Geoji-si, South Korea.

The Venture Gator is outfitted with best-in-class environmental and efficiency technology and will be primarily fueled by Venture Global’s liquefied natural gas. 

All nine vessels are expected to be fully built within the next 24 months, and once launched, will transport LNG from the United States to “multiple global partners,” the company said in a press release.

The launch of the Venture Gator comes almost exactly six months after President Joe Biden paused approvals for new liquified gas projects, and two months after the administration assured the nation’s European allies that the decision would not impact any current LNG exports.

LNG from the U.S. has become a staple for industries across Europe ever since the European Union began reducing its intake of Russian natural gas due to its invasion and ongoing war in Ukraine.

U.S. exports to the EU have been on the increase since the Russian invasion began in February 2022, and now make up about 50% of the LNG supplied to the bloc’s 27 member countries.

According to the U.S. Energy Information Administration, the country currently exports about 14 billion cubic feet of LNG per day.

The Venture Gator will begin deliveries to Europe and Asia this fall.

“Venture Global is proud to have launched our first ship, the Venture Gator at SHI in Korea,” said Mike Sabel, CEO of Venture Global, in a written statement. 

“President Biden has committed to increasing LNG supply into Europe and we are pleased to be in a position to continue to support these efforts with a fast-growing shipping fleet, wholly owned, operated and controlled by Venture Global,” Sabel continued. 

“With these ships, we will increase the security of natural gas supply, through low-cost LNG delivered directly to allies across the world,” he added.

The 174,000 cubic meter Venture Gator features a new hull design; onboard reliquification (for liquefying gas which has “boiled-off” in transit); air-lubrication systems (ejecting air bubbles from the hull to reduce friction through the water); an auxiliary shaft generator (reducing the number of auxiliary generators running at sea) and exhaust gas recirculation systems (to reduce methane), the combined amenities intended to make the vessel among the cleanest on the ocean today. 

The company is also constructing or developing an additional 60 million tons per annum of production capacity in Louisiana to fuel future shipments.

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