Venture Global declared commercial operations at the first phase of its Plaquemines LNG export facility in Louisiana on October 31, just over 53 months after reaching a final investment decision in May 2022. Phase 1 has approximately 13.3 million tonnes per annum of nameplate capacity and was supported by a $13.2 billion financing package. Shell received the first LNG cargo under a long-term sales and purchase agreement on November 1. Plaquemines began producing and exporting LNG in December 2024, but sold commissioning cargoes into the spot market rather than delivering under long-term contracts. The transition comes as LNG prices and supply disruptions remain elevated in Europe and Asia, potentially benefiting buyers with lower-priced long-term U.S. supply agreements. The milestone also carries significance amid previous customer disputes over contracted deliveries at Venture Global's Calcasieu Pass facility. Phase 2 is expected to begin long-term deliveries in mid-2027, while the two Plaquemines phases together are designed for 20 mtpa. Venture Global is also advancing CP2 LNG in Louisiana as part of a broader strategy targeting more than 100 mtpa across operating, construction-stage and proposed projects.