The Strategic Role of Gas Terminals
Case Study: The Strategic Role of Gas Terminals – Venture Global’s LNG Supply to Ukraine in 2024
In 2024, Venture Global played a pivotal role in supporting Ukraine’s energy security by supplying liquefied natural gas (LNG) amidst ongoing geopolitical instability. With European gas supplies under pressure due to the war in Ukraine and shifting global energy dynamics, the U.S.-based LNG producer leveraged its strategically located terminals on the Gulf Coast to provide critical shipments to Europe. On June 13, 2024, Ukgrane signed its first LNG deal with Venture Global’s Plaquemines LNG facility in Lousiana and also contracted to purchase to 2 million tons of LNG each year for 20 years, from Venture Global’s Calcasieu Pass 2 facility.
Although Ukraine has no regasification terminals for LNG imports of its own, Venture Global’s LNG exports were facilitated through regasification terminals in allied European nations, allowing Ukraine to access natural gas despite the disruption of traditional pipeline routes. This supply chain flexibility highlights the essential role of LNG infrastructure in ensuring energy resilience and diversification for nations vulnerable to supply shocks.
This LNG transaction also impacted US financial markets. Venture Global’s IPO listing in January 2025 was valued up to $110 billion, setting itself up for what was expected to be the “largest listing by an energy company in the U.S. in more than a decade,” according to a Jan 13, 2025 article by Reuters. “Conoco’s $4.4 billion offering in 1998 was the biggest energy New York IPO ever by a U.S.-based company, followed by Kinder Morgan’s (KMI.N), opens new tab $3.3 billion flotation in 2011, according to data compiled by LSEG.” Venture Global ended up raising $1.75 billion, making it the first big IPO of President Trump’s second term even though it fell short of its initial targets.
The case of Venture Global underscores how modern gas terminals serve as strategic assets in global energy security. As Corban Energy Group CEO Daniel Chung describes it, “Venture Global went online just before the Ukraine War. Everyone said it wasn’t possible…but they proved everyone wrong and did it. We believe we are just at the beginning of a new cycle of growth and there will be multiple additional terminals going online in the next few years.”
By operating efficient liquefaction and export terminals, Venture Global has demonstrated the ability to rapidly respond to shifts in global demand, reinforcing the U.S.’s role as a key LNG supplier. The company’s capacity to deliver LNG via maritime routes has helped mitigate risks associated with pipeline-dependent gas transit, giving Ukraine and other European nations greater energy independence from Russian supply constraints. With the current energy posture of the US administration, LNG infrastructure, including export and regasification terminals, is positioned to act as a growing stabilizing force in volatile energy markets, enabling energy-importing nations to maintain supply continuity despite geopolitical turbulence.
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