Venture Global will invest more than $10 billion in a new liquefied natural gas facility in Cameron Parish, Louisiana. The project is expected to create 200 jobs.
The new facility, named CP2, will have a nameplate capacity of 20 million metric tonnes per annum (MTPA) of LNG. The CCS process will be used to capture and store underground an estimated 500,000 tons of CO2 emissions from the facility annually. The complex will be located on 650 acres, including 170 acres on Monkey Island, providing CP2 with direct access to the deep-water Calcasieu Ship Channel.
“CP2 will be located in Cameron Parish, adjacent to our existing Calcasieu Pass terminal,” Venture Global LNG CEO Mike Sabel said. “These two projects, combined with our Plaquemines LNG facility now under construction, represent over $20 billion of investment in the State of Louisiana, and will create thousands of good paying jobs. With two major LNG export projects currently under active construction, Venture Global is on a mission to produce the cleanest low-cost LNG in North America. We are proud to partner with Louisiana in these efforts and in developing carbon capture and sequestration for our facilities. Under the leadership of Governor John Bel Edwards, Louisiana is enhancing its status as an international hub for innovation to tackle the energy and climate challenges of our time.”
To facilitate the project in Louisiana, the company is expected to utilize the state’s Quality Jobs and Industrial Tax Exemption programs.
“Venture Global has invested significantly in Louisiana’s economy, and I am proud to celebrate this exciting new project with them,” Governor John Bel Edwards said. “The CP2 facility in Cameron will create more than 1,000 new permanent jobs and thousands of construction jobs in the area, which will have a significant impact on our economy. And it is incorporating clean energy technology that reduces the amount of CO2 released into the atmosphere, which is significant for our environment. As Louisiana pursues a goal of net-zero emissions by 2050, projects that feature carbon capture and sequestration allow our state to sustain industry without sacrificing our long-term carbon-reduction goals.”
The site will be constructed in two phases, and will include 18 liquefaction blocks, four 200,000 cubic-meter full-containment LNG storage tanks, two marine loading berths, and two on-site combined cycle gas turbine power plants. Administrative offices, an on-site fire station and maintenance structures are also planned for the site. The CP Express pipeline will deliver natural gas to Venture Global’s CP2 facility in Cameron.
“Southwest Louisiana welcomes Venture Global's new mega-project,” said George Swift, president and CEO of the Southwest Louisiana Economic Development Alliance. “We are excited that it includes carbon capture and sequestration capacities. This major investment will further strengthen our region as a global leader in LNG exports. The jobs created will grow Cameron Parish's workforce significantly and make Cameron Parish the largest LNG exporter in the world.”
Headquartered in Arlington, Virginia, Venture Global LNG is a global provider of U.S. LNG. The company’s wholly owned subsidiaries, Venture Global CP2 LNG, LLC and Venture Global CP Express, LLC will build, own and operate the CP2 LNG project. Venture Global is constructing or developing several other facilities in Louisiana, including the Calcasieu Pass facility, also in Cameron, and the Venture Global Plaquemines LNG project in Plaquemines Parish.