The US LNG project developer Venture Global has announced a final investment decision (FID) and the successful closing of a US$15.1bn project financing for Phase 1 of its third LNG project, the 20 Mt/year Venture Global CP2 LNG, along with the associated CP Express Pipeline, in Cameron Parish, Louisiana (United States).
With 36 liquefaction trains arranged in 18 blocks, the CP2 terminal will have an expected production capacity of 20 Mt/year (peak capacity of 28 Mt/year), and first LNG exports are expected in the third quarter of 2027. Phase 1 of the project is backed by long-term sales and purchase agreements (SPAs) with several major customers across Europe and Asia, including Eni (Italy), Petronas (Malaysia), and SEFE (Germany). Across its three Louisiana-based projects, Venture Global now holds a total contracted capacity of 43.5 Mt/year.
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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