On the morning of October 31, 2026, the Plaquemines LNG project entered the commercial phase, marking a rare achievement in the liquefied natural gas sector. In less than five years from the final investment decision (FID), the plant began delivering low-cost U.S. LNG to its first long-term buyers. The speed of this greenfield development places it among the quickest LNG projects ever to reach a commercial operations date (COD), a milestone that underscores the aggressive scheduling and coordination carried out by the developer and its partners.
Company chief executive Mike Sabel highlighted the accomplishment, stating, “Achieving commercial operations at the first phase of our second LNG project in 53 months is a testament to our team’s relentless dedication and hard work.” He added that the collaboration of regulators and supply-chain stakeholders was essential to delivering the plant safely and on schedule, positioning the United States to provide reliable, affordable energy to a volatile global market.
Fast-track delivery of Plaquemines LNG Phase 1
The rapid progression from FID to COD was enabled by a tightly integrated project schedule that overlapped engineering, procurement, and construction activities. With a total capacity of more than 100 million tonnes per annum (MTPA) spread across projects in various stages—Calcasieu Pass, Plaquemines and CP2 LNG—Venture Global has become one of the United States’ largest LNG exporters since its first plant came online in 2022. All three facilities sit along Louisiana’s Gulf Coast, a strategic location that shortens the pipeline journey from upstream gas fields to marine export terminals.
Environmental stewardship is also woven into the development plan. Each of the company’s sites incorporates carbon-capture and sequestration systems designed to reduce emissions from the liquefaction process. By coupling high-volume export capability with a clear pathway to lower the carbon intensity of the shipped fuel, Venture Global aims to meet both market demand and emerging regulatory expectations.
First cargo lifted by Shell and its market implications
The inaugural shipment left the terminal at 3:26 a.m. local time on October 31 and was immediately taken on by a Shell-operated tanker. This cargo represents the first long-term sales and purchase agreement (SPA) delivery from Plaquemines Phase 1, delivering a volume that is expected to act as a stabilising force amid ongoing LNG market volatility. Analysts note that the contract price is set well below recent peaks of roughly $34 per million British thermal units (MMBtu) at the Dutch Title Transfer Facility and $32 /MMBtu at the Japan-Korea Marker, giving buyers a significant cost advantage.
Beyond Shell, the plant has already secured commitments from a diverse set of off-take partners, including Poland’s Orlen, China’s Sinopec and CNOOC Gas & Power, and France’s EDF. These agreements span multiple continents, reflecting the strategic importance of low-priced U.S. LNG in supporting energy security for import-dependent nations. With the first cargo dispatched, Venture Global is positioned to supply these customers for decades, reinforcing the United States’ role as a key player in the global energy transition.
Looking ahead, the company intends to continue expanding its export footprint while advancing carbon-capture projects at each facility. The successful start-up of Plaquemines Phase 1 demonstrates that ambitious timelines can be met without sacrificing safety or environmental standards, a formula that may inform future greenfield LNG developments worldwide.
