FEDERAL ENERGY REGULATORY COMMISSION APPROVES VENTURE GLOBAL'S CP2 LNG

ARLINGTON, Va., June 28, 2024 /PRNewswire/ — Today, Venture Global issued the following statement on the Federal Energy Regulatory Commission’s (FERC) approval of CP2 LNG, the company’s third export facility.

"Venture Global applauds the Commission and FERC staff for their independent and thorough review and approval of CP2 LNG," said Mike Sabel, CEO of Venture Global LNG. "This project will be critical to global energy security and supporting the energy transition, as well as provide jobs and economic growth across Louisiana and the United States. We appreciate Commissioner Clements’ service on the Commission and look forward to continuing to work with Chairman Phillips, Commissioner Christie, and the newly confirmed commissioners as well the outstanding FERC staff. I’d like to thank the Venture Global team who has worked with professionalism and great resolve to answer all requests from our regulators. We look forward to a swift non-FTA approval from the U.S. Department of Energy for this project that is critical to both global and national security."

To date, the initial phase of CP2 has been sold through 20-year sales and purchase agreements with ExxonMobil, Chevron, JERA, New Fortress Energy, INPEX, China Gas, SEFE and EnBW. In addition, CP2 LNG has also recently signed an HOA with DTEK of Ukraine. Venture Global is in active discussions for the remaining capacity, and has launched significant off site construction of the project.

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