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DOE announced the conditional long-term authorization for LNG exports to non-free trade agreement nations on Wednesday.
In December 2021, Venture Global CP2 LNG filed an application seeking authorization to export LNG in a volume equivalent to 1,446 billion cubic feet (Bcf) per year (Bcf/yr), or about 28 million metric tons per annum (mtpa) of LNG.
In April 2022, DOE granted the FTA portion of the application for a term through December 31, 2050.
CP2 LNG requested the non-FTA authorization for a term commencing on the earlier of the date of the first export from the project or seven years from the issuance of the requested authorization and extending through December 31, 2050.
The non-FTA approval marks the fifth LNG-related approval from DOE since President Trump took office.
In January, Trump lifted a moratorium by the former Biden administration on non-FTA LNG export permits.
Trump issued the executive order, which was widely expected, just hours after officially taking over his second four-year term as the president.
Prior to this non-FTA approval, the US Federal Energy Regulatory Commission (FERC) released a draft supplemental environmental impact statement for Venture Global’s CP2 LNG project in February.
The regulator said there would be no significant cumulative air quality impacts from the project.
FID
The CP2 LNG plant will be located next to Venture Global’s existing 10 mtpa Calcasieu Pass liquefaction plant in Louisiana, which is still in the commissioning phase and expected to start commercial operations on April 15.
Venture Global recently launched the final investment decision (FID) process for its CP2 LNG project.
The company said in its earnings report it progressed the 28 mtpa CP2 development, with $4 billion spent on construction, engineering, and design through December 31, 2024.
“The company has executed purchase orders for an additional 36 LNG trains for CP2, of which 12 are currently being fabricated,” according to Venture Global.
To date, the initial phase of CP2 LNG has been sold through 20-year SPAs with ExxonMobil, Chevron, Jera, NFE, Inpex, China Gas, SEFE, and EnBW.
Venture Global previously said it estimates that the total project costs for the CP2 project, including both phases, will range from about $27 billion to $28 billion.