Venture Global LNG Invests Another $10B in Louisiana
Venture Global LNG has announced that it will invest more than $10 billion to develop a fourth LNG export facility in the State of Louisiana.
The new project, dubbed CP2 LNG, will be located in Cameron Parish, adjacent to Venture Global’s first facility, Calcasieu Pass, the company highlighted. The latest project brings Venture Global’s total planned capital investment in Louisiana to more than $20 billion, the company outlined. CP2 LNG will result in thousands of good paying jobs and an estimated $2 billion in new local revenue during the life of the project, according to Venture Global.
The company noted that it has submitted a formal application requesting authorization from the Federal Energy Regulatory Commission to site, construct and operate the CP2 LNG facility and the CP express pipeline. CP2 LNG will build, own and operate a liquified natural gas terminal with a nameplate liquification capacity of 20 million metric tons per annum of LNG, Venture Global revealed. The CP Express pipeline will provide natural gas to the CP2 LNG facility.
A project timeline posted on Venture Global’s website sees the full commencement of phase one operations at CP2 LNG starting in the second quarter of 2026.
“Venture Global is proud to continue our expansion in Louisiana with the launch of our next project, CP2 LNG,” Venture Global Chief Executive Officer Mike Sabel said in a company statement.
“CP2 will be located in Cameron Parish, adjacent to our existing Calcasieu Pass terminal. These two projects, combined with our Plaquemines LNG facility now under construction, represent more than $20 billion of investment in the State of Louisiana and will create thousands of jobs - including both permanent and construction jobs,” he added in the statement.
“With two major LNG export projects currently under active construction, Venture Global is on a mission to produce the cleanest, low-cost LNG in North America. We are proud to partner with Louisiana in these efforts and in developing Carbon Capture and Sequestration for our facilities,” Sabel went on to say.
Louisiana Governor John Bel Edwards said, “Venture Global has invested significantly in Louisiana’s economy, and I am proud to celebrate this exciting new project with them”.
“The CP2 facility in Cameron will create more than 1,000 new permanent jobs and thousands of construction jobs in the area, which will have a significant impact on our economy. And it is incorporating clean energy technology that reduces the amount of CO2 released into the atmosphere, which is significant for our environment,” he added.
“As Louisiana pursues a goal of net-zero emissions by 2050, projects that feature carbon capture and sequestration allow our state to sustain industry without sacrificing our long-term carbon-reduction goals,” Edwards continued.
Cameron Police Jury Vice President Thomas McDaniel said, “we are fortunate to have growing industry in Cameron Parish and value our partnership with Venture Global”.
““This is a standout project and we are grateful for their investment in our community. CP2 is the kind of private-public partnership that means we can leave Cameron Parish better than we found it,” he added.
George Swift, the president and CEO of the Southwest Louisiana Economic Development Alliance, said, “Southwest Louisiana welcomes Venture Global’s new mega-project”.
“We are excited that it includes carbon capture and sequestration capacities. This major investment will further strengthen our region as a global leader in LNG exports. The jobs created will grow Cameron Parish’s workforce significantly and make Cameron Parish the largest LNG exporter in the world,” Swift added.
Last month, Venture Global announced “historic” LNG sales and purchase agreements with Sinopec. Under the deal, Venture Global and China Petroleum & Chemical Corp. signed two 20-year SPAs for the supply of a total of four million tons per annum of LNG from Venture Global’s Plaquemines LNG export facility, in Plaquemines Parish Louisiana. In addition, UNIPEC, a Sinopec subsidiary agreed to purchase 3.5 million tons of LNG from Venture Global’s Calcasieu Pass LNG facility for a shorter duration.
Venture Global is a long-term, low-cost provider of American-produced liquefied natural gas with offices around the globe. The company notes that it is currently constructing or developing 70 million tons per annum of production capacity in Louisiana to provide clean, affordable energy to the world.
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