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26 May | Gas

US regulators approve Venture Global's CP2 LNG facility in Louisiana

Natural gas
US regulators approve Venture Global's CP2 LNG facility in Louisiana

US regulators have authorized Venture Global to start the construction of its Louisiana-based liquefied natural gas (LNG) facility CP2.

As reported by Reuters, CP2 is set to become the biggest LNG export terminal in the United States, which will help the country maintain its position as the top global supplier of the superchilled fuel. Venture Global will become a leader in the US LNG production, with the plant designed to have an annual capacity of 28 million tons.

Upon receiving federal approval, Venture Global’s CEO Mike Sable announced on Friday that construction of the facility will be started immediately.

The CP2 plant has previously been the subject of a dispute between the energy industry and environmentalists, who aim to restrict the expansion of new LNG projects along the US Gulf Coast, Reuters says.

Elena Dorokhina MarketCheese

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