Venture Global Embarks on CP2 LNG Project With FID Announcement

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Researched by Industrial Info Resources (Sugar Land, Texas)--Venture Global (Arlington, Virginia) said Monday it had reached a final investment decision (FID) for the first phase of its Calcasieu Parish 2 (CP2) liquefied natural gas (LNG) project, together with an associated pipeline.

Venture Global valued the project at $15.1 billion, maintaining that it represents the largest standalone project financing ever. The project attracted loans from 29 banks from the U.S., Europe and Asia.

CP2, including phases 1 and 2, would have a nameplate capacity of 20 million metric tons per year, and a peak capacity of 28 million metric tons per year under optimal conditions, according to data from Industrial Info. Subscribers to Industrial Info's Global Market Intelligence (GMI) Oil & Gas Production and Pipelines project databases can click here for the project reports.

Venture Global Chief Executive Officer Mike Sabel noted the project will be the company's third greenfield project in less than six years.

"Our significant early investments and work on the project make CP2 the most advanced project at FID to date," Sabel said in a press release. "This project, fully owned by Venture Global and our shareholders, is expected to deliver reliable American LNG to the world beginning in 2027."

Phase 1 of CP2 has contracted long-term sale and purchase agreements (SPAs) with customers in the United States, Europe and Asia, Venture Global said.

On July 16, Venture Global said it had signed a deal to supply 2 million metric tons per year of LNG from its CP2 project to Eni SpA (Rome, Italy). To date, about 13.5 million metric tons per year of LNG from the first phase of CP2 has been sold, raising the total contracted capacity for all of Venture Global's Louisiana projects to 43.5 million metric tons per year, according to the company.

Earlier this month, Venture Global said it expects to be the leading supplier of LNG to the German market. Venture Global said it signed a 20-year agreement with German company Security Energy for Europe (SEFE) GmbH, a subsidiary of SEFE Energy, to secure an additional three-quarters of a million metric tons per year of LNG from CP2. For more on that, see July 10, 2025, article - Venture Global Expects to be Germany's Top LNG Supplier.

Also in July, the European Commission reported the U.S. overtook Russia as the European Union's (EU) second-largest natural gas supplier during first-quarter 2025. Norway was the largest supplier.

For more information, see July 8, 2025, article - U.S. Surpasses Russia as Gas Supplier to EU.

And this past weekend, the U.S. and the EU reached a tariff agreement that includes Europe's purchase of $750 million worth of U.S. oil, gas (including LNG), nuclear fuel and semi-conductors over the next three years. For more on that, see July 29, 2025, article - Europe Seals 'Last-Minute' Tariff Deal with U.S.

Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 Trillion (USD).