Venture Global LNG commenced early site work at the CP2 project in the spring of 2023. Credit: Tudor Dimitriu from Pixabay.

Oil and gas producer Inpex and power utility JERA have urged the US Federal Energy Regulatory Commission (FERC) to expedite approvals to Venture Global LNG for the development of the proposed CP2 LNG project in Louisiana, reported Reuters.

The two Japanese companies earlier signed 20-year LNG agreements to each purchase one million metric tonnes per annum (mtpa) from the proposed CP2 LNG project.

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Furthermore, JERA bought spot cargoes from Venture Global’s Calcasieu Pass LNG project.

In a letter to the US energy regulator, Inpex said the final investment decision on the CP2 LNG project is important for Japan’s energy security, reported the news agency.

Venture Global is due to secure approval from the FERC and export authorisation from the Department of Energy to commence construction on the CP2 LNG project.

Inpex expects construction to start early next year.

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JERA was quoted by the news agency as saying: “The slowing of US government authorizations for new US LNG export facilities is concerning.”

Venture Global LNG commenced early site work at the CP2 project in the spring of 2023.

Being developed by Venture Global LNG’s subsidiaries, Venture Global CP2 LNG and Venture Global CP Express, the CP2 LNG Project will comprise 18 LNG blocks to liquefy domestically produced natural gas.

The export terminal will also comprise four full containment LNG storage tanks and two marine loading docks.

CP2 LNG terminal’s nameplate export capacity is expected to be 20mtpa, with a peak export capacity of around 24mtpa.

Venture Global LNG has signed contracts for nearly half the proposed plant’s capacity. It plans to sign contracts for the remaining LNG capacity before the end of 2023.