Venture Global announced Monday that it has secured $15.1 billion in financing for the first phase of the company’s third liquefied natural gas export terminal.
In reaching a final investment decision on the initial phase of the CP2 LNG project, Venture Global is positioned to become “the largest exporter” of U.S. LNG, the Virginia-based company said in a news release. The project, located in Louisiana’s Cameron Parish, expects to start delivering LNG in 2027.
“Our significant early investments and work on the project make CP2 the most advanced project at FID to date,” said Mike Sabel, CEO of Venture Global, in a statement.
Federal regulators in May reauthorized the agency’s 2024 approval of CP2, and subsequently said Venture Global could move ahead with limited construction activities on the project. The CP2 terminal has an export capacity of at least 20 million metric tons of LNG each year, producing as much as 28 million metric tons annually under peak conditions.
