Venture Global To Invest Over $10 Billion To Develop LNG Facility In Cameron

CAMERON, La. – Gov. John Bel Edwards and Venture Global LNG CEO Mike Sabel announced the company will invest more than $10 billion in a new liquefied natural gas facility in Cameron Parish that will employ carbon capture and sequestration technology (CCS) to reduce carbon dioxide (CO2) emissions. The project will result in at least 200 direct new jobs, with average annual salaries of $120,000, plus benefits. Louisiana Economic Development estimates the project will result in 867 indirect jobs, or a total of 1,067 jobs in Southwest Louisiana. At the peak of construction, an average of 2,300 construction jobs will be created.

Venture Global’s new facility, named CP2, will have a nameplate capacity of 20 million metric tonnes per annum (MTPA) of LNG. The CCS process will be used to capture and store underground an estimated 500,000 tons of CO2 emissions from the facility annually. The complex will be located on 650 acres in Cameron, including 170 acres on Monkey Island, providing CP2 with direct access to the deep-water Calcasieu Ship Channel.

“Venture Global has invested significantly in Louisiana’s economy, and I am proud to celebrate this exciting new project with them,” Gov. Edwards said. “The CP2 facility in Cameron will create more than 1,000 new permanent jobs and thousands of construction jobs in the area, which will have a significant impact on our economy. And it is incorporating clean energy technology that reduces the amount of CO2 released into the atmosphere, which is significant for our environment. As Louisiana pursues a goal of net-zero emissions by 2050, projects that feature carbon capture and sequestration allow our state to sustain industry without sacrificing our long-term carbon-reduction goals.”

The site will be constructed in two phases, and will include 18 liquefaction blocks, four 200,000 cubic-meter full-containment LNG storage tanks, two marine loading berths, and two on-site combined cycle gas turbine power plants. Administrative offices, an on-site fire station and maintenance structures are also planned for the site. The CP Express pipeline will deliver natural gas to Venture Global’s CP2 facility in Cameron.

“CP2 will be located in Cameron Parish, adjacent to our existing Calcasieu Pass terminal,” Sabel said. “These two projects, combined with our Plaquemines LNG facility now under construction, represent over $20 billion of investment in the State of Louisiana, and will create thousands of good paying jobs. With two major LNG export projects currently under active construction, Venture Global is on a mission to produce the cleanest low-cost LNG in North America. We are proud to partner with Louisiana in these efforts and in developing carbon capture and sequestration for our facilities. Under the leadership of Governor John Bel Edwards, Louisiana is enhancing its status as an international hub for innovation to tackle the energy and climate challenges of our time.”

Headquartered in Arlington, Virginia, Venture Global LNG is a global provider of U.S. LNG. Venture Global’s wholly owned subsidiaries, Venture Global CP2 LNG, LLC and Venture Global CP Express, LLC will build, own and operate the CP2 LNG project. Venture Global is constructing or developing several other facilities in Louisiana, including the Calcasieu Pass facility, also in Cameron, and the Venture Global Plaquemines LNG project in Plaquemines Parish.

“We are fortunate to have growing industry in Cameron Parish and value our partnership with Venture Global,” said Cameron Police Jury Vice President Thomas McDaniel. “This is a standout project and we are grateful for their investment in our community. CP2 is the kind of private-public partnership that means we can leave Cameron Parish better than we found it.”

To facilitate the project in Louisiana, the company is expected to utilize the state’s Quality Jobs and Industrial Tax Exemption programs.

“Southwest Louisiana welcomes Venture Global’s new mega-project,” said George Swift, president and CEO of the Southwest Louisiana Economic Development Alliance. “We are excited that it includes carbon capture and sequestration capacities. This major investment will further strengthen our region as a global leader in LNG exports. The jobs created will grow Cameron Parish’s workforce significantly and make Cameron Parish the largest LNG exporter in the world.”

About Venture Global LNG
Venture Global is a long-term, low-cost provider of U.S. LNG to be sourced from resource rich North American natural gas basins. Venture Global is currently constructing or developing 70 MTPA of production capacity in Louisiana to provide clean, affordable energy to the world. For more information, visit www.venturegloballng.com

About LED
Louisiana Economic Development is responsible for strengthening the state’s business environment and creating a more vibrant Louisiana economy. LED cultivates jobs and economic opportunity for the people of Louisiana, and promotes business opportunity for employers of all sizes. In 2020, LED attracted 58 new economic development projects representing over 11,600 new jobs, 8,600 retained jobs and more than $12.7 billion in new capital investment. LED’s Small Business Services team, in conjunction with the Louisiana Small Business Development Center Network, assisted more than 17,500 Louisiana small businesses and entrepreneurs in 2020. For more information, visit OpportunityLouisiana.com.

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