Venture Global began the final investment decision process in early March and launched offsite construction while the project awaited the necessary federal regulatory approvals. (Source: Shutterstock/ Venture Global)
The U.S. Department of Energy approved Venture Global’s Calcasieu Pass 2 (CP2) LNG project in Cameron Parish, Louisiana, to export LNG to non-FTA countries, Venture Global said March 19.
Venture Global began the final investment decision process in early March and launched offsite construction while the project awaited the necessary federal regulatory approvals.
The initial production phase of CP2 has already been sold via 20-year sale and purchase agreements with Exxon Mobil, Chevron, JERA, New Fortress Energy, INPEX, China Gas, SEFE and EnBW.
The permit follows a slew of opposition for the project by environmentalists and members of the surrounding community. An environmental review published by the Federal Energy Regulatory Commission in February helped to clear the way for the project’s federal permits.
“CP2 LNG is a vital project for the U.S. economy, balance of trade and global energy security. We are grateful for the Trump administration’s return to regular order and regulatory certainty that will allow us to further expand U.S. LNG exports, which have consistently been found to be in the public interest across multiple administrations,” Venture Global CEO Mike Sabel said in the March 19 permit announcement.
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