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Released May 05, 2025 | SUGAR LAND
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Written by Daniel Graeber for Industrial Info Resources (Sugar Land, Texas)--U.S. liquefied natural gas (LNG) developer Venture Global LNG (NYSE:VG) (Arlington, Virginia) said Friday it had secured $3 billion in financing to support the development of the second phase of its Calcasieu Pass export terminal in Louisiana.
Venture Global already runs the facility in Cameron Parish, Louisiana. IIR Energy data show Calcasieu Pass has a nameplate capacity of 1.6 billion cubic feet per day (Bcf/d) in exports of natural gas in the liquid form.
On Friday, it said it secured the loan facility from 19 banks that would support the continuation of manufacturing, procurement and engineering work at the second phase, dubbed CP2. Subscribers to Industrial Info's Global Market Intelligence (GMI) Oil & Gas Project and Plant databases can learn more about the second-phase project from a detailed project report and plant profile.
Construction began in 2023 at a 1,150-acre site adjacent to the existing terminal in Cameron Parish. Venture Global expects CP2 will have a nameplate capacity of at least 2.65 Bcf/d.
Two liquefaction trains for CP2 are expected in the coming months, said Mike Sabel, the chief executive officer at Venture Global.
"This strategically important project for the United States will quickly bring new American LNG supply to the global market, equalizing the balance of trade with other nations and supporting global energy security," he added.
Data from IIR Energy show the existing Calcasieu Pass terminal operating at about 95% of its peak design capacity.
Calcasieu Pass had been operating in the commissioning phase over the last three years until mid-April. Venture Global said commercial operations started several years after it made its final investment decision, "despite substantial impacts including two hurricanes, the COVID-19 pandemic, and major unforeseen manufacturing issues."
The U.S. shipped out its first batch of LNG in 2016 and established itself as the world's leading exporter in 2022, a year that coincided with a supply void in Europe that came as a result of sanctions imposed on Russia for the invasion of Ukraine.
Seeking to capitalize on that, U.S. President Donald Trump has created a special council formed to ensure U.S. energy dominance. As part of that effort, his government issued a permit to Commonwealth LNG for LNG exports from its planned facility in Cameron Parish.
Commonwealth is working to develop a facility that would have a design capacity of about 1.2 Bcf/d in LNG exports.
Data from IIR Energy show the eight operational LNG export terminals are processing about 16 Bcf/d of natural gas, some 2 Bcf/d above what the government expects in average exports this year.
Natural gas is comprised mostly of methane, a potent energy carrier with an exceptionally strong warming potential for the atmosphere. A recent study from the Oxford Institute for Energy Studies (OIES) concluded that "methane emissions are the potential Achilles Heel of any claim for gas and LNG to act as a transition or bridge fuel."
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) platform 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).
Venture Global already runs the facility in Cameron Parish, Louisiana. IIR Energy data show Calcasieu Pass has a nameplate capacity of 1.6 billion cubic feet per day (Bcf/d) in exports of natural gas in the liquid form.
On Friday, it said it secured the loan facility from 19 banks that would support the continuation of manufacturing, procurement and engineering work at the second phase, dubbed CP2. Subscribers to Industrial Info's Global Market Intelligence (GMI) Oil & Gas Project and Plant databases can learn more about the second-phase project from a detailed project report and plant profile.
Construction began in 2023 at a 1,150-acre site adjacent to the existing terminal in Cameron Parish. Venture Global expects CP2 will have a nameplate capacity of at least 2.65 Bcf/d.
Two liquefaction trains for CP2 are expected in the coming months, said Mike Sabel, the chief executive officer at Venture Global.
"This strategically important project for the United States will quickly bring new American LNG supply to the global market, equalizing the balance of trade with other nations and supporting global energy security," he added.
Data from IIR Energy show the existing Calcasieu Pass terminal operating at about 95% of its peak design capacity.
Calcasieu Pass had been operating in the commissioning phase over the last three years until mid-April. Venture Global said commercial operations started several years after it made its final investment decision, "despite substantial impacts including two hurricanes, the COVID-19 pandemic, and major unforeseen manufacturing issues."
The U.S. shipped out its first batch of LNG in 2016 and established itself as the world's leading exporter in 2022, a year that coincided with a supply void in Europe that came as a result of sanctions imposed on Russia for the invasion of Ukraine.
Seeking to capitalize on that, U.S. President Donald Trump has created a special council formed to ensure U.S. energy dominance. As part of that effort, his government issued a permit to Commonwealth LNG for LNG exports from its planned facility in Cameron Parish.
Commonwealth is working to develop a facility that would have a design capacity of about 1.2 Bcf/d in LNG exports.
Data from IIR Energy show the eight operational LNG export terminals are processing about 16 Bcf/d of natural gas, some 2 Bcf/d above what the government expects in average exports this year.
Natural gas is comprised mostly of methane, a potent energy carrier with an exceptionally strong warming potential for the atmosphere. A recent study from the Oxford Institute for Energy Studies (OIES) concluded that "methane emissions are the potential Achilles Heel of any claim for gas and LNG to act as a transition or bridge fuel."
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) platform 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).
