The US Federal Energy Regulatory Commission (FERC) has recommended the environmental approval of Venture Global’s proposed CP2 LNG project in the US state of Louisiana. Considering that the project’s emission impact would not have significant cumulative air quality impacts, the regulatory authority granted permission to construct, install, own, operate, and maintain certain LNG facilities in Parishes of Cameron and Calcasieu (Louisiana), as well as in the Jasper and Newton Counties (Texas), including a 91-mile (146 km) pipeline system to transport over 113 mcm of feed gas required for the proposed LNG export operations from natural gas supply points in east Texas and southwest Louisiana to the Terminal Facilities.
Additionally, Venture Global has secured commitments for a US$3bn bank loan facility from 19 banks to continue manufacturing, procurement and engineering of its CP2 LNG project. The company has already invested US$4bn in the project and it expects to use the loan to continue with the venture at an accelerated pace. The CP2 LNG project aims to liquefy, store, and export a nameplate liquefaction capacity of 20 Mt/year of LNG, with approximately 28 Mt/year peak capacity possible under optimal conditions.
As of end-2024, the US had seven LNG liquefaction export terminals with a combined capacity of 119 bcm/year (88 Mt/year). LNG export capacities are expected to increase by more than 50% by 2026 and LNG export volumes to double by 2050.
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