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Venture Global To Invest $10bn In Louisiana

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US liquefied natural gas provider Venture Global has announced it will invest more than $10 billion into a new LNG facility in Cameron Parish, Louisiana, utilizing carbon capture and sequestration (CCS) technologies to reduce emissions.

The project, named CP2, expects to produce 20 million tons of LNG per year and capture and store about 500,000 tons of carbon dioxide emissions annually.

“CP2 will be located in Cameron Parish, adjacent to our existing Calcasieu Pass terminal. 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,” CEO Mike Sabel said.

At peak construction, 2,300 jobs will be created. The site 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.

“The CP2 facility in Cameron will create more than 1000 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,” Louisiana governer John Bel Edwards said.

“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,” he added.

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