Venture Global Inc. has started site work at its CP2 LNG project in Louisiana, after receiving final clearance from the Federal Energy Regulatory Commission.
In March the Department of Energy (DOE) granted a conditional permit for CP2 LNG to export to countries without a free-trade agreement (FTA) with the United States. The project has already secured authorization for its export volume, the equivalent of about 1.45 trillion cubic feet a year of natural gas, when it received FTA export approval April 2022.
The Arlington, Virginia-based developer announced full mobilization after the DOE said it has resumed issuing final non-FTA orders by approving a separate project, Sempra’s Port Arthur LNG phase 2 in Texas.
Expected to begin operation 2027, “CP2 is a strategically important project that is expected to provide U.S. LNG to customers in Europe, Japan and other allies around the world”, Venture Global said, announcing the launch of site work.
“The Project is expected to support approximately 3,000 new jobs in Louisiana – 400 of which will be direct, permanent employees of CP2 – and pay more than $4 billion in local property taxes during its operation. At peak construction, CP2 is expected to employ approximately 7,500 direct construction jobs and support tens of thousands of indirect subcontractor, part-time and full-time jobs in over 30 states”.
The company added, “CP2 is already well advanced in engineering, procurement and contracting. Separate from the site work commencing now, the Project already has significant off-site work underway on the Project modules and equipment”.
“This significant engineering and off-site progress now positions CP2 as one of the most advanced LNG export projects under development in the United States and we believe, once completed, will position Venture Global to become the top exporter of U.S. LNG”, Venture Global said.
In granting a conditional authorization in March the DOE said it was withholding a final decision pending a review of permitting considerations concerning greenhouse gas emissions, environmental impact, energy prices and domestic gas supply.
In May the DOE said it was ready to proceed with issuing final orders on pending applications to export LNG to non-FTA nations after delivering its verdict on the review initiated by the past administration.
Later that month the DOE granted the second phase of Port Arthur LNG a final non-FTA permit. “This is the first final LNG export approval under President Trump’s leadership and marks another step in restoring regular order to LNG export permitting – reversing the previous administration’s pause and delivering on the President’s pledge to unleash American energy”, the DOE said.
To contact the author, email jov.onsat@rigzone.com
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