Venture Global LNG (Venture Global) has selected GE Oil & Gas as a strategic partner to provide a plant-wide technology solution for its liquefied natural gas (LNG) export facilities under development in Louisiana.
Under the agreement, GE Oil & Gas will leverage advanced technologies from across the broader GE portfolio to deliver a comprehensive power, pretreatment and LNG liquefaction system.The agreement provides for the delivery of a complete LNG process system with defined schedule, price and performance standards – all backed by GE, a recognized technology leader in the LNG industry.
Mike Sabel and Bob Pender, Venture Global LNG, Inc. co-CEOs, jointly announced, "This transaction is an LNG industry precedent-setting event. It will materially reduce project costs and risks and accelerate dramatically construction schedules. GE Oil & Gas is committed to this market and their product suite.
This, combined with their proven excellence in assembly, fabrication and service solutions, aligns with our low-cost strategy. GE Oil & Gas is a world-class company and an excellent partner who shares our vision for the future of baseload plants built with highly efficient, mid-scale liquefaction blocks."
Rod Christie, CEO of GE Oil & Gas Turbomachinery, said: "Our advanced technologies and outcome-based service agreement are an ideal fit for Venture Global LNG, Inc.'s low-cost strategy. As a recognized technology leader in the LNG industry, we share Venture Global LNG, Inc.'s desire to innovate technically and operationally to deliver the LNG facilities of the future.
Our track record in the LNG space positions us well as a partner that will deliver this comprehensive mid-scale solution, which incorporates a GE LNG process system, compression, electric motors, power generation, pre-treatment and electrical distribution. In addition to our technology and services, we are pleased to provide capital to invest in and help expedite the project."