The proposed CP3 project aims to export 30 million tonnes per annum (mtpa) of liquefied natural gas (LNG). Credit: T. Schneider/Shutterstock.

Venture Global LNG is looking to construct a fifth project on the US Gulf Coast, which could position the company to become the “largest” LNG exporter, reported Bloomberg.

Citing a document prepared ahead of the company’s potential initial public offering (IPO), the media outlet reported that the proposed project, named CP3, would be located in Louisiana near its existing Calcasieu Pass plant.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

Venture Global is also finalising its second project, Plaquemines, at New Orleans in Louisiana state. Furthermore, two projects, CP2 and Delta LNG, are under development in the state.

The proposed CP3 project aims to export 30mtpa of LNG, which has not been publicly disclosed.

If realised, CP3 would be Venture Global’s “largest” project so far, with plans to reach a final investment decision by 2027 and a targeted start-up date of 2031.

This expansion is part of the company’s strategy to achieve a capacity of 100mtpa, a goal announced in September 2023 after it expanded its partnership with Baker Hughes.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Earlier this month, Reuters reported that Venture Global was planning to raise approximately $3bn through an IPO in New York, potentially occurring this year. The company is working with banks such as Goldman Sachs and JPMorgan Chase for the listing.

Last week, Bloomberg reported that pending arbitration claims against Venture Global LNG have reached almost $6bn.

Stemming from the Calcasieu Pass plant, these claims involve eight companies including oil majors such as BP and Shell.

Although the Calcasieu Pass LNG facility commenced production in early 2022, it is alleged to have not yet fulfilled long-term contract deliveries.