Venture Global is urging the U.S. Federal Energy Regulatory Commission (FERC) to approve its proposed CP2 liquefied natural gas (LNG) facility in Louisiana by June 26. The project would become the largest LNG plant in the country, adding 28 million metric tons to U.S. export capacity.
Although Venture Global aims to make a final investment decision by mid-2025, CEO Michael Sable stressed that the company cannot proceed without FERC’s formal approval. “We have clearly made the decision to invest our own capital and do everything we can to move the project forward… but we need the Commission to act,” Sable wrote in a letter to FERC, according to Reuters.
FERC had initially approved the project but later rescinded the decision due to concerns about its potential impact on local air quality. Those concerns prompted a second environmental review, which concluded last week. The updated assessment found no significant threat to air quality, clearing a key hurdle for the project.
Meanwhile, Venture Global reported a strong first quarter, with revenue doubling compared to the same period last year. The company attributed the growth to high global demand for LNG. Operating income rose 75%, and the company expects to export 145–150 cargoes from its Calcasieu Pass facility and 222–239 cargoes from its Plaquemines project in 2025, including those already shipped.
Despite its commercial success, Venture Global has faced criticism. Several European energy companies have accused it of breaking long-term contracts to sell LNG on the spot market at higher prices. The move earned Venture Global billions in extra revenue, but left its long-term clients—who helped fund its first LNG plant—with costly shortfalls.
If approved, the CP2 project would solidify Venture Global’s role as a dominant player in the U.S. LNG market. The company is currently the second-largest U.S. LNG exporter, behind Cheniere Energy. Both firms have seen strong demand from European buyers seeking alternatives to Russian pipeline gas.
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