Venture Global has been granted non-free trade agreement (FTA) export authorisation by the US Department of Energy (DOE) for its CP2 liquefied natural gas (LNG) project in Cameron Parish, Louisiana.
The CP2 LNG terminal will be built on a 1,150-acre site next to Venture Global’s Calcasieu Pass LNG facility. It is the company’s third LNG venture.
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Venture Global CEO Mike Sabel said: “CP2 LNG is a vital project for the US economy, balance of trade and global energy security.
“We are grateful for the Trump Administration’s return to regular order and regulatory certainty that will allow us to further expand US LNG exports, which have consistently been found to be in the public interest across multiple administrations. This will enable us to provide our allies around the world with American LNG in just a few years and for decades to come.”
The CP2 LNG facility is expected to have an export capacity of 20 million tonnes per annum (mtpa).
The project is in the advanced engineering stage, with procurement work currently ongoing.
Earlier in the month, Venture Global announced the commencement of the final investment decision (FID) process for CP2 LNG.
The project’s initial phase has already secured 20-year sales and purchase agreements with Chevron, China Gas, EnBW, ExxonMobil, INPEX, JERA, New Fortress Energy and SEFE.
Venture Global is also in negotiations for the remaining capacity and has already initiated off-site construction while awaiting project approvals from US regulators.
Recently, Venture Global announced plans to expand its Plaquemines LNG facility in New Orleans, Louisiana, with an additional 24 trains and an investment of approximately $18bn.
This expansion will increase the company’s total investment in its US projects to more than $75bn.
