Venture Global's CP2 LNG Project Receives Final Authorization to Export to Non-FTA Countries

Strategic Insights -

The US Department of Energy (DOE) has granted final authorization for Venture Global Inc's CP2 LNG project in Cameron Parish, Louisiana, to export to countries without a free trade agreement (FTA) with Washington. This development comes after a conditional permit in March. The project, which is well underway, is expected to bring new liquefied natural gas (LNG) to the global market at a record pace beginning in 2027.

Key Takeaways:

  • The CP2 project has secured an FTA permit on April 22, 2022, and can now export a cumulative 1.45 trillion cubic feet a year of natural gas equivalent or about 28 million metric tons per annum of liquefied natural gas (LNG) to FTA and non-FTA nations through 2050.
  • The non-FTA volume in this order is not additive to CP2 LNG's FTA order, as the export volumes authorized in CP2 LNG's FTA order and this order reflect the maximum liquefaction capacity of the project as approved by FERC.
  • The final order brings DOE's cumulative total of approved non-FTA exports of LNG from the lower-48 states to 52.81 Bcfd of natural gas (across 42 final orders, including this order).
  • Venture Global's CP2 LNG project has secured the largest standalone project financing ever, with a closing of $15.1 billion in financing for phase 1 and a total of $34 billion of commitments.
  • The lender group for the construction financing is comprised of the world's leading banks, signaling significant demand for U.S. LNG investment not only in the United States but also in Europe and Asia.
  • Phase 1 has contracted long-term SPAs with customers in Europe, Asia, and the rest of the world.

Sources:

  • "Under President Trump's leadership, DOE has authorized more than 13.8 Bcfd of LNG exports - greater than the volume exported today by the world's second-largest LNG supplier", as stated by the DOE in an online statement Wednesday.
  • A release from Venture Global, dated July 28, 2025, announcing a positive final investment decision and the closing of $15.1 billion in financing for phase 1 of CP2 LNG.
  • A report by Global Data Point, providing financial information on the project.