Venture Global recieved Federal Energy Regulatory Commission's (FERC) approval of CP2 LNG, the company's third export facility.
"Venture Global applauds the Commission and FERC staff for their independent and thorough review and approval of CP2 LNG," said Mike Sabel, CEO of Venture Global LNG. "This project will be critical to global energy security and supporting the energy transition, as well as provide jobs and economic growth across Louisiana and the United States. We appreciate Commissioner Clements' service on the Commission and look forward to continuing to work with Chairman Phillips, Commissioner Christie, and the newly confirmed commissioners as well the outstanding FERC staff. I'd like to thank the Venture Global team who has worked with professionalism and great resolve to answer all requests from our regulators. We look forward to a swift non-FTA approval from the U.S. Department of Energy for this project that is critical to both global and national security."
To date, the initial phase of CP2 has been sold through 20-year sales and purchase agreements with ExxonMobil, Chevron, JERA, New Fortress Energy, INPEX, China Gas, SEFE and EnBW. In addition, CP2 LNG has also recently signed an HOA with DTEK of Ukraine. Venture Global is in active discussions for the remaining capacity, and has launched significant off site construction of the project.
The CP2 LNG facility is designed to feature 18 liquefaction blocks, each with a capacity of approximately 1.1 million metric tons per annum (mtpa) of LNG, along with four 200,000-cubic-meter full containment LNG storage tanks.
According to Venture’s fact sheet on the projects, the CP Express pipeline will consist of approximately 85.1 miles of new 48-inch-diameter natural gas pipeline and approximately 5.9 miles of new 24-inch-diameter lateral pipeline to connect the CP2 LNG terminal to the existing natural gas pipeline grid in east Texas and southwest Louisiana. Additionally, one new compressor station is proposed to be constructed east of Vinton, Louisiana.
A number of additional efforts will take place, such as civil and environmental field surveys, site evaluations, and ongoing landowner and stakeholder consultations, to determine the final optimal pipeline route.
The CP2 LNG and CP Express Project will support the company’s long-term development of clean and reliable North American energy supplies by providing additional markets for U.S. natural gas producers.
