Venture Global LNG officials were joined by Gov. Bobby Jindal today at a 203-acre site on the Calcasieu Ship Channel at Calcasieu Pass to announce the company’s plans to build a $4.25 billion liquefaction processing complex and liquefied natural gas export terminal on the Cameron Parish site.
Construction on the complex is expected to begin in the third quarter of 2016, with operations expected to begin in 2019. Louisiana Economic Development estimates construction of the complex will create 1,500 jobs, and that the plant itself will yield 100 new direct jobs and 326 new indirect jobs.
The company is expected to take advantage of the state’s Louisiana Quality Jobs and Industrial Tax Exemption programs. The quality jobs program provides a cash rebate of up to 6% of a company’s payroll for up to a decade, while the industrial exemption program offers a full abatement of local property taxes on new capital investments for up to a decade.
With a planned export capacity of 10 million metric tons when fully developed, the complex will accommodate ocean-going vessels with a carrying capacity of up to 185,000 cubic meters of liquefied natural gas.
“The Venture Global LNG export facility puts Cameron Parish at the forefront of liquefied natural gas trade,” Stephen Broussard, West Cameron Port District director, said in a prepared statement. “Due to the geographic location, and the depth of the Calcasieu Ship Channel, this project has a significant opportunity to bring vast economic prosperity to the area.”
LED has more details on today’s announcement. —Steve Sanoski
