Venture Global has received export authorization from the US Department of Energy (DOE) to export LNG to non-FTA countries for its third project, the 20-million tonnes/year CP2 LNG, in Cameron Parish, La., the company said in a release Mar. 19.
In a Mar. 4 release of its full year and quarterly results, Venture Global said it had progressed CP2 development, with $4.0 billion spent on construction, engineering, and design through Dec. 31, 2024, and that it had launched the final investment decision (FID) process.
To date, the initial phase of CP2 LNG has been sold through 20-year sales and purchase agreements with ExxonMobil, Chevron, JERA, New Fortress Energy, INPEX, China Gas, SEFE, and EnBW.
The company said it is in discussions for the remaining capacity and has launched significant off site construction of the project while it has awaited project authorizations from US regulators.
“The benefits of expanding US LNG exports have never been more clear, and I am proud to be taking action to support the American people and our allies abroad with more affordable, reliable, secure American energy,” said Secretary of Energy Chris Wright in a separate release Mar. 19.
In the order, DOE finds that LNG exports from CP2 LNG are likely to yield economic benefits to the United States, diversify global LNG supplies, and improve energy security for US allies and trading partners over the course of the export term through 2050. DOE expects to issue a final order to CP2 LNG in the coming months.
CP2 is the third LNG export project that has been developed by Venture Global. Calcasieu Pass came online in March 2022 and the Plaquemines LNG project began exports in late 2024.
