$8.5 billion natural gas plant and terminal planned for Plaquemines Parish

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NEW ORLEANS (WGNO) – A new natural gas liquefaction plant and export terminal is expected to bring over 975 jobs to Plaquemines Parish.

Governor John Bel Edwards and Venture Global LNG executives Bob Pender and Mike Sabel announced today that the company will invest $8.5 billion to develop the plant and terminal.

Plaquemines LNG will be Venture Global’s second major natural gas liquefaction and export project in Louisiana, joining the $4.5 billion Calcasieu Pass project that was announced in Cameron Parish in December 2014 and is under development.

“We are happy to welcome Venture Global to Plaquemines Parish for its second multibillion-dollar LNG project in our state,” Gov. Edwards said in a press release. “The long-term prospects for the U.S. natural gas industry are bright, and Louisiana is well-positioned to capitalize on that success with ready access to natural gas supplies and deepwater access for shipping LNG to destinations worldwide. This facility will have a major impact on the local and regional economy, with hundreds of new high-paying jobs for our skilled workforce.”

The new venture is expected to generate 250 jobs with an average salary of $70,000 per year directly, while an additional 728 jobs are expected to be created indirectly. Another 2,200 construction jobs are also expected.

“From the very inception of our LNG export terminal project in Cameron, Venture Global LNG was and remains convinced that Louisiana is the best place in the United States to develop such important infrastructure projects,” Venture Global co-Chief Executive Officer Bob Pender said. “We have been delighted with the state’s supportive environment, unified regulatory approach, and skilled and qualified workforce. We are proud to now be developing a second LNG facility, to be located in Plaquemines Parish, Louisiana. Plaquemines LNG will invest billions in new facilities, equipment and labor and bring thousands of temporary and hundreds of permanent jobs to the state.”

Plaquemines LNG will be built to an export capacity of 20 million metric tons per year. The complex will be located on the west bank of the Mississippi River near Mile Marker 55, downriver of Myrtle Grove. The 632-acre site – about 30 miles south of New Orleans – includes 7,000 feet of river frontage and is owned by the Plaquemines Port Harbor and Terminal District.

Construction of the Plaquemines LNG project is expected to begin in 2018, once the project is authorized by the Federal Energy Regulatory Commission. Full operations are expected to begin in 2022.

“GNO Inc. is thrilled to welcome Venture Global, a project representing close to 1,000 new well-paying jobs and major capital investment, to Plaquemines Parish,” Greater New Orleans Inc. President and CEO Michael Hecht said. “Venture Global will strengthen our region’s economy and send a strong signal that Louisiana remains one of the best choices for business because of its friendly business climate and unparalleled logistics.”