June 05, 2025 [Yahoo Finance]- Venture Global has commenced full mobilisation and initiated site work at its CP2 LNG (liquefied natural gas) export facility, following the receipt of final approval from the US Federal Energy Regulatory Commission (FERC).
The CP2 LNG terminal facility will be situated on an approximately 1,150-acre site adjacent to Venture Global’s Calcasieu Pass LNG plant in Cameron Parish, Louisiana.
The associated marine facility will be located on Monkey Island, between the Calcasieu Ship Channel and Calcasieu Pass.
The proposed CP Express natural gas pipeline will start in Jasper County, Texas, and pass via Newton County, Texas, and Calcasieu Parish, Louisiana, before it ends at the CP2 LNG terminal in Cameron Parish.
Upon completion, the project is poised to become a significant source of US LNG for Europe, Japan and other global allies.
Venture Global CEO Mike Sabel said: “Venture Global applauds the Commission and FERC staff for their continued work to advance critical US energy projects like CP2 LNG that support our allies abroad and thousands of jobs here at home.
“With all federal approvals now in hand we are excited to announce that we have launched on-site work for this project, which is expected to deliver reliable low-cost LNG to the world, starting in 2027. I am proud of our team and their relentless commitment to execution, which has enabled our company’s historic achievements and rapid growth from a start-up to breaking ground on our third LNG export facility since 2019.”
The CP2 LNG project is anticipated to have a substantial economic impact, with projections indicating the creation of approximately 3,000 new jobs in Louisiana.
This includes 400 direct, permanent positions at CP2, and the facility is expected to contribute more than $4bn in local property taxes throughout its operational life.
At the height of its construction phase, CP2 LNG is set to provide around 7,500 direct construction jobs.
Last month, Venture Global’s subsidiary, Venture Global CP2 LNG, secured a substantial $3bn bank loan facility for the CP2 LNG export facility.
