Yesterday, Venture Global received approval from the US Department of Energy (DoE) to export LNG to non-FTA countries for its third project, CP2 LNG, located in Cameron Parish, Louisiana.
Venture Global CEO, Mike Sabel, said:“CP2 LNG is a vital project for the U.S. economy, balance of trade, and global energy security.
“We are grateful for the Trump administration’s return to regular order and regulatory certainty that will allow us to further expand US LNG exports, which have consistently been found to be in the public interest across multiple administrations.
“This will enable us to provide our allies around the world with American LNG in just a few years and for decades to come.”
Earlier this month, Venture Global announced that it has launched the FID process for CP2 LNG.
To date, the initial phase of CP2 LNG has been sold through 20-year sales and purchase agreements (SPAs) with ExxonMobil, Chevron, JERA, New Fortress Energy, INPEX, China Gas, SEFE and EnBW.
Venture Global said it was in discussions to sell the remaining capacity and has launched significant off site construction of the project, while it has awaited project authorisations from US regulators.
In addition, NextDecade Corp has announced that the US Court of Appeals for the DC Circuit (Court) issued a revision to its August, 2024 judgment, remanding without vacatur the Federal Energy Regulatory Commission’s (FERC) order for the first five liquefaction trains at the Rio Grande LNG project.
“We are pleased with today’s revised Court judgment, which ensures construction at the Rio Grande LNG facility will not be impacted by the Court,” said Matt Schatzman, NextDecade’s Chairman and CEO.
“This is an excellent outcome for NextDecade’s shareholders, our partners in the project, the local community, and our customers.
“We look forward to continuing our work with FERC through the re-authorisation process for our project,” he said.
