Venture Global LNG has unveiled plans to invest over $10bn for the construction of a new liquefied natural gas (LNG) export facility, dubbed CP2 LNG (CP2), in the US state of Louisiana.
The state’s fourth LNG facility will be constructed in Cameron Parish, beside the company’s first facility in Calcasieu Pass.
With the latest project, the company’s total planned capital investment in the state will reach to over $20bn.
Venture Global CEO Mike Sabel said: “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.”
A formal application has been submitted by the company to secure authorisation from the Federal Energy Regulatory Commission (FERC) to site, build and operate the CP2 LNG facility and the CP express pipeline.
With a liquification capacity of 20 million metric tonnes per annum (Mtpa) of LNG, the LNG terminal will be constructed, owned and operated by CP2 LNG.
The CP Express pipeline will deliver natural gas to the CP2 LNG facility.
In a statement, Louisiana governor John Bel Edwards said: “The CP2 facility in Cameron will create more than 1,000 new permanent jobs and thousands of construction jobs in the area, which will have a significant impact on our economy.”
In November this year, Venture Global LNG signed an agreement with Sinopec for the supply of a total of 4Mtpa of LNG from its Plaquemines LNG export facility, in Plaquemines Parish Louisiana.
