Venture Global is forging ahead with the second phase of the company’s mammoth natural gas export terminal in southwestern Louisiana after securing $8.6 billion in project financing.
The Virginia-based company unveiled the investment milestone for the second stage of the CP2 liquefied natural gas facility Friday, roughly seven months after it locked in more than $15 billion for the project’s initial phase. Venture Global said once the CP2 export terminal is “fully online,” the company is poised to become the largest U.S. exporter of LNG.
“With the Phase Two financing secured, we will build on the strong construction progress already underway and deliver reliable American LNG to customers around the world,” Mike Sabel, Venture Global’s CEO, said in a news release.
Venture Global’s decision to proceed with CP2’s second phase is the first final investment decision for the U.S. LNG sector in 2026. It also comes as the Trump administration recently celebrated the 10th anniversary of the first export cargo of U.S. LNG produced from the Lower 48 states.
