Venture Global announced a final investment decision (FID) on Phase 2 of its Calcasieu Pass 2 (CP2) facility on March 13. The company took FID for Phase 1 of CP2 in July 2025 (which is different from the original, already operational Calcasieu Pass facility) and had already purchased the modules needed for both Phase 1 and Phase 2. Phase 2’s FID was widely expected but marks the first FID of 2026. CP2 LNG has a nameplate capacity of around 20 MMtpa, the same as Plaquemines, with a peak capacity of 29 MMtpa. Plaquemines has recently been taking more than 4 Bcf/d in feedgas, and CP2 could reach similar heights when fully operational. See the graph of Plaquemines feedgas below.
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- Analyst Insight
Q2 2026 Earnings Calls: Venture Global Updates on LNG Progress
Venture Global reports continued progress in building the CP2 export terminal. It also touted its commercial progress toward FID on two bolt-on projects near existing facilities.
- Blog
Greenlight – How LNG Projects Really Get to FID and What it Takes to Be Part of the Gulf Coast Wave
The U.S. LNG industry has experienced monumental growth and there’s a hefty slate of additional projects somewhere along the path to a final investment decision, each with its own hurdles and timelines. Getting across that FID finish line can be quite arduous.
- Blog
What’s Left – Delfin Floating LNG Joins the Growing List of Gulf Coast Projects Reaching FID
Three new U.S. LNG projects have reached a positive final investment decision this year: Venture Global’s CP2 Phase 2, Caturus’s Commonwealth LNG, and now, most recently, Delfin Midstream’s Delfin LNG, which will be the U.S.’s first floating LNG project.
