Venture Global LNG raises $1.75 billion
Three companies developing liquefied natural gas (LNG) projects in Texas and Louisiana said they will move full speed ahead with their plans after U.S. President Donald Trump lifted the previous administration's freeze on export permits.
One of the president’s executive orders offers a new path for getting a gas development across the finish line.
Brokers are quoting levels for 174,000-cbm vessels lifting cargoes out of the US to Europe at $9,000 per day on a round trip voyage basis — a record low for modern vessels of this type. This is down from an already weak $22,000 per day seen at the start of this year. A Vitol relet is being reported as fixed to Petronas UK at around $9,000 per day.
The question hovering over expanding U.S. LNG exports to Europe has been price sensitivity and the willingness of individual European countries to wean themselves off the cheaper Russian LNG.
U.S. President Donald Trump has ended the moratorium on new liquefied natural gas export permits imposed by his predecessor Joe Biden in January 2024. Trump targeted the LNG industry with an executive order on the first day,
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"Portugal to increase LNG purchases from US, Nigeria, reduce Russian imports" was originally created and published by Offshore Technology, a GlobalData owned brand.
Europe is increasingly reliant on its ability to attract LNG following the loss of Russian gas through Ukraine, as it depletes its gas in storage. The EU’s gas storage was 59 per cent full as of Monday, 15 per cent below the same time last year, according to industry body Gas Infrastructure Europe. Colder weather contributed to a faster withdrawal.
The company priced its IPO at $25 a share, raising $1.75bn, according to a statement. It had said earlier this month that it was seeking to achieve a valuation of up to $110bn — more than oil major BP — before scaling back its offering this week.
Poised to provide the operational collaboration necessary to grow exports, Managing Director / CEO Nigerian Ports Authority (NPA), Dr. Abubakar Dantsoho received the Chief Executive Officer of the Nigerian Liquiefied Natural Gas (NLNG) Limited,
President Trump’s energy policies, coupled with rising LNG exports and AI-driven power demand, position the U.S. for a potential natural gas boom dependent on market forces.