Venture Global asks FERC for prompt CP2 LNG plant approval

Feb. 19, 2024
Venture Global LNG Inc. last week asked the US Federal Energy Regulatory Commission to approve construction of its 20-millon tonne/year (tpy) CP 2 LNG plant in Cameron Parish, La., as part of its Mar. 21, 2024, meeting.

Venture Global LNG Inc. last week asked the US Federal Energy Regulatory Commission to approve construction of its 20-millon tonne/year (tpy) CP 2 LNG plant in Cameron Parish, La., as part of its Mar. 21, 2024, meeting.

CP2 also still needs Department of Energy authorization to export LNG to non-free trade agreement countries. The Biden Administration last month paused this sort of permitting (OGJ Online, Jan. 30, 2024) pending a review of accounting for such projects’ environmental and economic impacts.

Venture Global has 20-year sales agreements in place for 9.25 million tpy of CP2’s capacity. The company last year received a positive environmental impact statement for the project (OGJ Online, July 28, 2023).

“The Project is more advanced, commercially and financially, than any other proposed Gulf Coast LNG project that is pending Commission authorization,” Venture Global said in its request. “Its portfolio of customers consists of some of the most recognized and most creditworthy LNG offtakers in the world, a number of whom have urged the Commission to promptly approve the Project.” Buyers include Inpex Energy Trading Singapore (IETS) Pte. Ltd., Securing Energy for Europe (SEFE) GMBH, JERA Co. Inc., and Energie Baden-Wurttemberg AG (EnBW).