Venture Global LNG announced the acquisition and construction of a new fleet of nine LNG-powered vessels, according to a March 18 press release.
The vessels, which are currently under construction in South Korea, plan to be delivered starting later this year, the release said.
Six of the vessels will have a cargo capacity of 174,000 cu. m, and three will have a cargo capacity of 200,000 cu. m.
The vessels are propelled by the latest 2-stroke MEGA/MEGI engines which, in combination with the use of the most recent hull forms, shaft generator and air lubrication systems, result in the “highest fuel efficiency and lowest GHG emissions based on currently available LNG carrier technology,” Venture Global said.
“This investment builds on our recent execution of a long-term terminal use agreement for regasification capacity at Europe's largest LNG import terminal, further advancing the integration of our business across the entire LNG supply chain; from natural gas transmission to liquefaction and export, to best-in-class LNG cargo ships and regasification capacity,” said the company’s CEO Mike Sabel.
Recommended Reading
CEO: Coterra ‘Deeply Curious’ on M&A Amid E&P Consolidation Wave
2024-02-26 - Coterra Energy has yet to get in on the large-scale M&A wave sweeping across the Lower 48—but CEO Tom Jorden said Coterra is keeping an eye on acquisition opportunities.
CEO: Magnolia Hunting Giddings Bolt-ons that ‘Pack a Punch’ in ‘24
2024-02-16 - Magnolia Oil & Gas plans to boost production volumes in the single digits this year, with the majority of the growth coming from the Giddings Field.
E&P Earnings Season Proves Up Stronger Efficiencies, Profits
2024-04-04 - The 2024 outlook for E&Ps largely surprises to the upside with conservative budgets and steady volumes.
U.S. Shale-catters to IPO Australian Shale Explorer on NYSE
2024-05-04 - Tamboran Resources Corp. is majority owned by Permian wildcatter Bryan Sheffield and chaired by Haynesville and Eagle Ford discovery co-leader Dick Stoneburner.
Kimmeridge Fast Forwards on SilverBow with Takeover Bid
2024-03-13 - Investment firm Kimmeridge Energy Management, which first asked for additional SilverBow Resources board seats, has followed up with a buyout offer. A deal would make a nearly 1 Bcfe/d Eagle Ford pureplay.