Venture Global LNG Project Faces Major Cost Overruns ...Middle East

The Plaquemines LNG project led by Venture Global is running over budget and could end up with a total price tag of between $21 billion and $22 billion, Reuters has reported, citing Venture Global’s IPO documents. Plaquemines LNG will be the company’s second production facility after Calcasieu Pass, with a capacity to produce 20 million tons of the superchilled fuel annually. Production should begin in the coming weeks, despite the setbacks. The cost overrun for Plaquemines stands at $2.35 billion at the moment but the number could…

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