The US Federal Energy Regulatory Commission (FERC) has approved Venture Global CP2 LNG export project in Louisiana, despite regional and nationwide massive environmental campaigns to derail it.

 

The CP2 project needs to receive permission from the US Department of Energy (DOE) before commencing the construction as DOE has to determine that the LNG export from the project is in the public interest.
However, permission review and granting process of the LNG projects has been paused by the Biden administration since January in order to update the climate, consumer, and environmental criteria used to evaluate the LNG export projects. According to the Global LNG Database®, Venture Global’s CP2 project to be located adjacent to the operating Calcasieu Pass LNG export plant which is at the intersection of the Calcasieu Ship Channel and the Gulf of Mexico.

 

US market observers had predicted that the recent signing of an initial LNG sales agreement between Venture Global and a Ukrainian private company to supply the latter with LNG from the CP2 could encourage Biden's administration to approve the project.

 

Venture Global is in deep disputes with its main LNG buyers since nearly 2-year ago over its “deliberately” delaying commercial operations date (COD) of its first LNG export project (Calcasieu Pass) which the European buyers believe have "detrimental consequences" for energysecurity in Europe at a “critical time”. None of the Calcasieu Pass project’s long-term LNG buyers are on the list of off-takers from the CP2 project.

 

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