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December 3, 2021

Venture Global plans to build a $10bn LNG exporting facility in the US

The firm is seeking approval for the construction of the CP2 LNG facility, which will have a 20 million MTPA capacity.

By Archana Rani

Venture Global LNG is planning to build a liquefied natural gas (LNG) exporting facility in Louisiana, US, with an investment of more than $10bn.

The firm is now seeking authorisation to site, construct and operate the CP2 LNG facility and the CP express pipeline from the US federal energy regulatory commission (FERC).

The CP2 LNG facility will be responsible for the production of 20 million metric tonnes per annum (Mmtpa) of LNG, while also keeping its carbon emissions as low as possible.

The new project is to be built in Cameron Parish, next to the Venture Global-owned facility Calcasieu Pass.

Venture Global CEO Mike Sabel said: “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.

“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 (CCS) for our facilities.

“Under the leadership of Governor John Bel Edwards, Louisiana is enhancing its status as an international hub for innovation to tackle the energy and climate challenges of our time.”

Expected to create more than 1,000 new permanent jobs and thousands of construction jobs, the CP2 facility will feature clean energy technology to reduce CO₂ emissions.

Louisiana Governor John Bel Edwards said: “As Louisiana pursues a goal of net-zero emissions by 2050, projects that feature carbon capture and sequestration allow our state to sustain the industry without sacrificing our long-term carbon-reduction goals.”

In October, Venture Global LNG signed three LNG supply contracts with Chinese firm Sinopec’s trading arm Unipec and China Petroleum & Chemical (Sinopec), amid shortages of domestic power and mounting gas prices.

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