Venture Global gave an update on its existing and proposed LNG facilities during its earnings call this week. The company – which is the U.S.’s second largest producer of LNG for export – currently operates the Calcasieu Pass and Plaquemines export facilities in Louisiana. Construction is also underway on CP2, which is on Monkey Island in the middle of the pass, while the original Calcasieu Pass facility is on the mainland. The initial CP2 project will take 3.2 Bcf/d in feedgas and is scheduled to reach First LNG in the second half of 2027. In the latest update from Venture Global, 16 out of 36 liquefaction trains have been delivered and 36% of on-site construction is complete. CEO Michael Sabel said that the facility is “progressing as well as any LNG facility has ever progressed.”
In addition to what is currently under construction, the company is planning “bolt-on expansions” at CP2 and Plaquemines. The CP2 expansion is a brownfield project on Monkey Island next to the rest of CP2 and will take roughly 1.3 Bcf/d in feedgas. Venture Global filed for a non-FTA export permit for this bolt-on last month, and they are targeting FID in early 2027. The firm is also planning Phase I of a bolt-on expansion at Plaquemines, which would take 0.9 Bcf/d. They are targeting the first half of 2027 for FID on this project, which is more specific than the previous timeline. With regard to the Plaquemines expansion, Sabel said that “customer demand can comfortably support” FID early next year, and that “timing of the offtake contracts” would not be an impediment to reaching FID. The company touted its new or increased offtake agreements during the second quarter with TotalEnergies, Vitol, Atlantic-See LNG and EnBW.
CP2 construction with a double rainbow on Monkey Island. Source: Venture Global
