The launch of the site work comes shortly after CP2 received final approval and Notices to Proceed from the Federal Energy Regulatory Commission (FERC) on the Project, and weeks after receiving its non-FTA export authorization from the U.S. Department of Energy.
Mike Sabel, CEO of Venture Global said:
- Venture Global applauds the Commission and FERC staff for their continued work to advance critical U.S. energy projects like CP2 LNG that support our allies abroad and thousands of jobs here at home;
- with all federal approvals now in hand we are excited to announce that we have launched on-site work for this Project, which is expected to deliver reliable low-cost LNG to the world starting in 2027;
- I am proud of our team and their relentless commitment to execution which has enabled our company’s historic achievements and rapid growth from a start-up to breaking ground on our third LNG export facility since 2019.
The Project is expected to support approximately 3,000 new jobs in Louisiana - 400 of which will be direct, permanent employees of CP2 - and pay more than $4 billion in local property taxes during its operation.
At peak construction, CP2 is expected to employ approximately 7,500 direct construction jobs and support tens of thousands of indirect subcontractor, part-time and full-time jobs in over 30 states.
Building off Venture Global’s - design one build many - modularized LNG facility strategy, CP2 is already well advanced in engineering, procurement and contracting.
Separate from the site work commencing now, the Project already has significant off-site work underway on the Project modules and equipment.
This significant engineering and off-site progress now positions CP2 as one of the most advanced LNG export projects under development in the United States and we believe, once completed, will position Venture Global to become the top exporter of U.S. LNG.
