Fourth LNG export facility to be developed in US State of Louisiana

Venture Global LNG and Louisiana Governor John Bel Edwards have announced the company will invest more than US$10 billion to develop a fourth LNG export facility in the State of Louisiana.

The new project, CP2 LNG (CP2) will be located in Cameron Parish, adjacent to Venture Global’s first facility, Calcasieu Pass. This announcement brings Venture Global’s total planned capital investment in the State of Louisiana to more than US$20 billion.

CP2 will result in thousands of good paying jobs and an estimated US$2 billion in new local revenue during the life of the project. The direct new jobs created by the project will have average annual salaries of US$120 000 plus benefits.

“Venture Global is proud to continue our expansion in Louisiana with the launch of our next project, CP2 LNG. 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 US$20 billion of investment in the State of Louisiana and will create thousands of jobs – including both permanent and construction jobs,” said Venture Global CEO Mike Sabel.

“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.”

“Venture Global has invested significantly in Louisiana’s economy, and I am proud to celebrate this exciting new project with them,” said Louisiana Governor John Bel Edwards.

“The CP2 facility in Cameron will create more than 1000 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.

“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.”

Venture Global also announced that it has submitted a formal application requesting authorisation from the Federal Energy Regulatory Commission (FERC) to site, construct and operate the CP2 LNG facility and the CP express pipeline.

CP2 LNG will build, own and operate an LNG terminal with a nameplate liquefaction capacity of 20 million tpy of LNG. The CP Express pipeline will provide natural gas to the CP2 LNG facility.

Source: LNG Industry Magazine