US FERC issues final SEIS for Venture Global’s CP2 LNG project

“Based on the environmental analysis in this final supplemental EIS, staff have determined that the emission impacts, including 1-hour NO2 and annual PM2.5 impacts from the Moss Lake compressor station and CP2 LNG Terminal, when combined with past, present, and reasonably foreseeable emissions within the regional air environment are not significant,” FERC said.

“As such, we conclude that there would be no significant cumulative air quality impacts,” the regulator said.

“Based on our analysis and conclusions above, we have determined that no further mitigation measures are required for the project’s NO2 and PM2.5 emissions. All of the conditions of the Commission’s June 27, 2024 authorization of the project will apply, if approved, and are therefore not repeated here,” FERC said.

Prior to this final SEIS, FERC released the draft supplemental environmental impact statement in February this year.

In a 2-1 decision, FERC commissioners approved the project and the project’s pipeline during a meeting in June last year.

In July last year, the regulator issued the final environmental impact statement for the CP2 LNG project, Venture Global’s third LNG export terminal.

After that, FERC issued an order in November 2024 setting aside its approval of the CP2 LNG export facility.

The decision came in response to a request for rehearing filed by Sierra Club, NRDC, and a broad coalition of community and environmental organizations.

FID

Before a final investment decision, Venture Global LNG also needs the final long-term authorization for LNG exports to non-free trade agreement nations.

In March, Venture Global received conditional non-FTA approval from the US Department of Energy for its proposed CP2 LNG project.

During the same month, Venture Global announced it had launched the formal FID process for CP2 LNG.

The CP2 LNG plant will be located next to Venture Global’s existing 10 mtpa Calcasieu Pass liquefaction plant in Louisiana, which recently started commercial operations.

CP2 is expected to have peak production capacity of up to 28 mtpa.

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 estimates that the total project costs for the CP2 project, including both phases, will range from about $27 billion to $28 billion.

Earlier this month, Venture Global LNG secured a $3 billion bank loan facility for its CP2 LNG project.