U.S. ‘Freedom Gas’ Aims to Loosen Russia's Grip on Europe’s Market
- Venture Global expands LNG supply agreement with PGNiG
- Trump administration has touted gas as foreign policy tool
Drill pipe sits on a rack near a rig in the Permian Basin near Midland, Texas.
Photographer: Daniel Acker/BloombergThis article is for subscribers only.
More “freedom gas” from U.S. shale basins is earmarked for Europe after the company behind a Louisiana export project expanded a deal with Poland.
Venture Global LNG Inc. will send Poland’s PGNiG 2.5 million tons of liquefied natural gas from the yet-to-be-built Plaquemines terminal, up from 1 million in a previous agreement, according to a filing Wednesday. The pact boosts the odds that Venture Global will decide to move forward with the $8.5 billion project, which isn’t expected to start up until 2022.