Plaquemines begins LNG deliveries under long-term contracts
🏭 Venture Global began commercial operations at Plaquemines Phase 1 on October 31. Shell received the first cargo under a long-term contract on November 1, following around 22 months of commissioning.
🚢 The plant had already produced and sold LNG on the spot market during commissioning. This milestone mainly changes delivery arrangements, with limited immediate additions to global supply.
💰 Long-term customers now receive LNG at contract prices significantly below current European and Asian benchmarks, reducing their reliance on expensive spot cargoes.
⚖️ The immediate impact on LNG prices may be limited because the facility was already exporting. Geopolitics, weather and gas inventories remain key drivers, while sustained downward pressure would require additional physical supply.
#LNG $NATGAS
🏭 Venture Global began commercial operations at Plaquemines Phase 1 on October 31. Shell received the first cargo under a long-term contract on November 1, following around 22 months of commissioning.
🚢 The plant had already produced and sold LNG on the spot market during commissioning. This milestone mainly changes delivery arrangements, with limited immediate additions to global supply.
💰 Long-term customers now receive LNG at contract prices significantly below current European and Asian benchmarks, reducing their reliance on expensive spot cargoes.
⚖️ The immediate impact on LNG prices may be limited because the facility was already exporting. Geopolitics, weather and gas inventories remain key drivers, while sustained downward pressure would require additional physical supply.
#LNG $NATGAS
