PR89769

ARLINGTON, Va., May 27, 2021 /PRNewswire=KYODO JBN/ --

Today, Venture Global LNG announced plans to capture and sequester carbon at

its Calcasieu Pass and Plaquemines LNG facilities. Having concluded a

comprehensive engineering and geotechnical analysis, the company is launching,

subject only to regulatory approvals, a shovel-ready carbon capture and

sequestration (CCS) project, compressing CO2 at its sites and then transporting

the CO2 and injecting it deep into subsurface saline aquifers where it will be

permanently stored.  

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Through this undertaking, Venture Global will capture and sequester an

estimated 500,000 tons of carbon per year from its Calcasieu Pass and

Plaquemines liquefaction sites. In addition, the Company anticipates using

similar infrastructure to capture and sequester 500,000 tons of carbon per year

from the CP2 LNG facility once permitted. Altogether, Venture Global plans to

sequester 1 million tons of carbon per year, the equivalent of removing nearly

200,000 cars off the road each year for 20 years. The successful deployment of

carbon capture and sequestration technology at Calcasieu Pass would be the

first of its kind for an existing LNG facility in the United States.

"From driving down the cost of LNG to driving down our carbon footprint,

Venture Global continues to execute on our mission to constantly innovate in

order to deliver the best product possible to our customers," said Venture

Global CEO Mike Sabel.  "Through this historic carbon capture and sequestration

project, we will build upon our existing state-of-the-art technology to develop

even cleaner LNG at our facilities to displace coal around the world. Our

location in Louisiana uniquely positions us to pioneer the deployment of this

technology due to geology that can support industrial scale injection and

storage of CO2. Through the continued leadership of Governor John Bel Edwards,

Louisiana will become the national hub for innovative energy technology to

tackle climate challenges and Venture Global is proud to partner with him in

these efforts."

"I am pleased to learn that Venture Global LNG has identified significant

opportunities for CO2 capture and sequestration in Louisiana," said Louisiana

Governor John Bel Edwards. "Louisiana is well-positioned in terms of

infrastructure, industry, geology and policy to take a leadership role in

controlling and reducing atmospheric emissions of carbon through the use of

Carbon Capture, Utilization and Storage (CCUS) initiatives.  Louisiana fully

recognizes that our nation is in the early stages of a profound transition in

our energy mix, and I am committed to supporting private sector investments

that address greenhouse gas emissions in a major and sustaining way in our

state. Clearly Venture Global LNG is a valued partner on this new frontier of

carbon capture."

"We already know that Louisiana's geology and industry are primed to be a major

hub for growing new economic opportunities through carbon management, and now

we are seeing what we need to take that next step to be a national leader in

the field – actual projects like Venture Global LNG's CCS proposal," said

Louisiana Secretary of Natural Resources Tom Harris. "This state is perfectly

positioned to benefit from the growth of a carbon management industry and the

experience and technology already present here will serve companies well in

seeking to develop our advantages, to the benefit of the state's people, its

environment and the companies that choose to do business here."

About Venture Global LNG

Venture Global LNG is a long-term, low-cost provider of U.S. LNG to be supplied

from resource rich North American natural gas basins. The company is currently

constructing or developing over 50 MTPA of production capacity in Louisiana to

provide clean, affordable energy to the world. More can be found at

www.venturegloballng.com.

SOURCE  Venture Global LNG

CONTACT:  Venture Global investor contact: Leah Woodward, D: +1 202 759-6746

lwoodward@vglng.com; Venture Global media contact: Shaylyn Hynes, D: +1 202

920-0964, shynes@vglng.com