- Venture Global and Grain LNG sign 16 year agreement for 3MTPA LNG storage and regasification at Isle of Grain LNG terminal in the UK, starting in 2029.
- The deal, stemming from Grain LNG’s auction process, secures Europe’s largest LNG import terminal until 2045, contributing up to 5% of the UK’s average gas demand.
- Venture Global commits to supplying LNG from its Louisiana terminals, including CP2 LNG, pending federal permits.
- This partnership enhances natural gas supply security and diversity for the UK and Europe, supporting the transition to a low carbon economy.
- The agreement is a significant outcome of Grain LNG’s competitive process, bolstering the region’s energy infrastructure and meeting long term demand.
Venture Global LNG and Grain LNG have announced a new deal that will strengthen the security and diversity of natural gas supply to the UK and Europe. The two companies have executed a binding long term terminal use agreement (TUA) enabling the regasification and sale of LNG from all of Venture Global’s terminals in Louisiana, including CP2 LNG, subject to obtaining necessary federal permits .
Under the agreement, Venture Global will have the ability to access 3 million tonnes per annum (3MTPA) of LNG storage and regasification capacity at the Isle of Grain LNG receiving terminal for sixteen years beginning in 2029 – equivalent of up to 5% of average UK gas demand . This is the second agreement from Grain LNG’s competitive auction process which was launched in September 2023. The successful outcome of the auction further secures the future of Europe’s largest LNG import terminal into the mid 2040s .
Grain LNG is a subsidiary of National Grid, the UK’s electricity and gas transmission system operator. Grain LNG operates the largest LNG import terminal in Europe, located on the Isle of Grain in Kent, England. The terminal has a capacity of 20MTPA of LNG, equivalent to about one third of the UK’s gas demand. Grain LNG is currently undergoing a significant expansion, adding a fifth storage tank and additional regasification capacity.
Venture Global LNG is a US based company that is developing three liquefaction terminals in Louisiana: Calcasieu Pass, Plaquemines LNG and CP2 LNG. Calcasieu Pass is expected to start commercial operations in late 2024, with a capacity of 10MTPA of LNG. Plaquemines LNG and CP2 LNG are expected to start construction in 2024 and 2025 respectively, each with a capacity of 20MTPA of LNG. Venture Global has secured long term contracts with several customers in Europe, Asia and Latin America.
The partnership between Venture Global and Grain LNG will enhance the security and diversity of natural gas supply to the UK and Europe, as well as support the transition to a low carbon economy. Natural gas is a cleaner burning fuel than coal and oil, and can help reduce greenhouse gas emissions and air pollution. Natural gas can also complement renewable energy sources by providing flexibility and reliability to the power grid. The UK has recently seen a significant rise in LNG imports as Europe has diversified its LNG sources . With volumes across its projects, Venture Global will become a strategic supplier to Europe, providing flexibility and access to low cost US natural gas .
Mike Sabel, CEO of Venture Global said: “Venture Global is thrilled to announce our first investment in LNG infrastructure outside of the United States, bolstering our ability to supply LNG from all our projects. The Grain LNG terminal is an important gateway to the broader European market, and we look forward to supplying the region through this new access point for years to come.”
Katie Jackson, President of National Grid Ventures said: “I’m delighted that we are today able to announce the second result from our September auction, commencing a long term partnership with Venture Global. LNG imports play a critical role in making sure the whole of the UK has the gas it needs, when it needs it, providing a flexible and reliable supply of gas to heat peoples’ homes. The UK has recently seen a significant rise in LNG imports as Europe has sought alternative energy sources. The addition of our first US customer further diversifies our supplier base, underpins UK consumers’ energy security and guarantees the future of our world class site out to 2045.”
Career Opportunities
Grain LNG, a part of the National Grid Group, offers a wide range of career opportunities for engineering and marine professionals. As the UK’s demand for gas is increasing and North Sea gas supplies are declining, Grain LNG is uniquely positioned to address this challenge. The company offers roles in process plant management, plant safety, project engineering, quality assurance, and the control and operation of plant equipment.
Venture Global LNG offers a variety of roles across a number of different fields. Venture Global LNG is committed to attracting a diverse workforce and invests heavily in workforce development. The company values character, and trains for skill, making it a promising place for career growth.
Grain LNG and Venture Global LNG present compelling career opportunities for individuals enthusiastic about the natural gas sector and eager to contribute to its expansion. If you’re interested in a career with either company, visit their websites for details on current job openings: