CAMERON PARISH, La. (KPLC) – Venture Global has given final approval of its CP2 LNG export terminal in Cameron Parish, according to a news release on the company’s website.
Venture Global says it has secured $15.1 billion in financing for the first phase of CP2.
The project will be located on a roughly 1,150-acre site near the company’s Calcasieu Pass LNG facility in Cameron Parish.
According to Venture Global, this project could make the company the largest exporter of American Liquefied Natural Gas. Venture Global currently has a contracted capacity of 43.5 million tonnes per annum, but CP2 will add another 28 MTPA.
“We are extremely proud to have taken FID [financial investment decision] on our third greenfield project in under 6 years with over $80 billion in capital markets transactions executed to date,” Mike Sable, Venture Global CEO, said. “Our significant early investments and work on the project make CP2 the most advanced project at FID to date. This project, fully owned by Venture Global and our shareholders, is expected to deliver reliable American LNG to the world beginning in 2027.”
The company said in June that CP2 is expected to result in 3,000 new jobs in the state, 400 of which will be direct, permanent jobs at CP2.
CP2 is also expected to pay more than $4 billion in local property taxes during its operation.
This will be the third project Venture Global has built, all in the last five years, following Calcasieu Pass and Plaquemines LNG, 20 miles south of New Orleans.
The company also has a CP3 project in the works for Cameron Parish.
Calcasieu Pass, CP2 and CP3 will all be situated at the mouth of the Calcasieu River.
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