Worley updates on CP2 LNG work

In December 2023, Worley secured the engineering, procurement, and construction (EPC) contract for the first phase of Venture Global’s CP2 LNG terminal.

Venture Global recently announced that it has initiated full mobilization and started site work at the company’s third LNG export facility, CP2 LNG.

The launch of the site work came shortly after CP2 received final approval and notices to proceed from the US FERC, and weeks after receiving its non-FTA export authorization from the US DOE.

Worley said in a statement on Monday that its personnel are now mobilised to the CP2 site.

The company noted that progress on CP2 had been delayed pending approval from the US FERC.

“Worley has now largely completed engineering for Phase 1 and has commenced providing engineering services for Phase 2,” the company said.

Once Venture Global reaches the final investment decision (FID), Worley will then continue to complete the project under a full notice to proceed.

“Worley expects to commence the major part of its in-scope construction activities subject to completion of initial on-site civil works, planned for the end of FY26,” it said.

The company added that Venture Global is targeting first LNG exports in the third quarter of 2027.

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.

Moreover, it is expected to have peak production capacity of up to 28 mtpa.

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

In March, Venture Global announced it had launched the formal FID process for CP2 LNG.