ARLINGTON, Va., Dec. 2, 2021 /CNW/ -- Today, Venture Global LNG and Louisiana Governor John Bel Edwards announced the company will invest more than $10 billion to develop a fourth LNG export facility in the State of Louisiana. The new project, CP2 LNG ("CP2") will be located in Cameron Parish, adjacent to Venture Global's first facility, Calcasieu Pass. This announcement brings Venture Global's total planned capital investment in the State of Louisiana to more than $20 billion. CP2 will result in thousands of good paying jobs and an estimated $2 billion in new local revenue during the life of the project. The direct new jobs created by the project will have average annual salaries of $120,000 plus benefits.
"Venture Global is proud to continue our expansion in Louisiana with the launch of our next project, CP2 LNG. CP2 will be located in Cameron Parish, adjacent to our existing Calcasieu Pass terminal. These two projects, combined with our Plaquemines LNG facility now under construction, represent more than $20 billion of investment in the State of Louisiana and will create thousands of jobs—including both permanent and construction jobs," said Venture Global CEO Mike Sabel. "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."
"Venture Global has invested significantly in Louisiana's economy, and I am proud to celebrate this exciting new project with them," said Louisiana Governor John Bel Edwards. "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. And it is incorporating clean energy technology that reduces the amount of CO2 released into the atmosphere, which is significant for our environment. As Louisiana pursues a goal of net-zero emissions by 2050, projects that feature carbon capture and sequestration allow our state to sustain industry without sacrificing our long-term carbon-reduction goals."
Today, Venture Global also announced that it has submitted a formal application requesting authorization from the Federal Energy Regulatory Commission (FERC) to site, construct and operate the CP2 LNG facility and the CP express pipeline. CP2 LNG will build, own and operate a liquified natural gas (LNG) terminal with a nameplate liquification capacity of 20 million metric tonnes per annum (MTPA) of LNG. The CP Express pipeline will provide natural gas to the CP2 LNG facility.
About Venture Global LNG
Venture Global is a long-term, low-cost provider of U.S. LNG to be sourced from resource rich North American natural gas basins. Venture Global is currently constructing or developing 70 MTPA of production capacity in Louisiana to provide clean, affordable energy to the world.
SOURCE Venture Global LNG
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