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Earlier this year, the CP2 project obtained the conditional long-term authorization for LNG exports to non-free trade agreement nations.
DOE announced the final non-FTA approval in a statement on Monday.
US Secretary of Energy Chris Wright signed the final export authorization for the Venture Global CP2 LNG project, allowing exports of up to 3.96 billion cubic feet per day of US natural gas as LNG to non-FTA countries.
Under President Trump’s leadership, DOE has authorized more than 13.8 Bcf/d of LNG exports—greater than the volume exported today by the world’s second-largest LNG supplier, according to DOE.
Today, US exports are approximately 15 billion cubic feet per day (Bcf/d), an increase of approximately 25 percent from 2024 levels, DOE said.
CP2
In July, Venture Global took FID on the first phase of its CP2 LNG project. First LNG from this phase is expected in late 2027.
The company also closed the $15.1 billion project financing, claiming that it represents the largest standalone project financing ever, and the second-largest project financing after the combined financings of Venture Global’s Plaquemines LNG.
The CP2 LNG plant site is situated adjacent to Venture Global’s existing Calcasieu Pass liquefaction plant in Louisiana, which commenced commercial operations in April.
“Phase One has a nameplate capacity of 14.4 mtpa, but following the improvements we have made as a result of our ongoing optimization efforts, we believe the peak run rate production level of Phase 1 should be closer to 20 mtpa,” CEO Mike Sabel said during Venture Global’s second-quarter earnings call in August.
“Including Phase two, which we expect FID in 2026, the 36 factory-built liquefaction trains from both phases should be capable of production of 28 mtpa once completed and commissioned,” Sabel said.
In July, Venture Global signed two new 20-year offtake agreements with Malaysia’s Petronas and Italy’s Eni for CP2 volumes.
In addition, Venture Global signed a 20-year LNG supply contract with German gas importer Securing Energy for Europe (SEFE).
“Collectively, these three new commitments bring the total contracted volume for CP2 up to 13.5 mtpa,” Sabel said.
“At this point, we are contracting for Phase 2, which has 5.6 mtpa of nameplate capacity with expected peak production capacity of about eight mtpa,” the CEO said.
“Following several additional offtake agreements, we anticipate Phase two FID at some point next year, funded by internally generated cash flow and project financing similar to what we executed for Phase 1,” Sabel said.