Venture Global LNG will invest more than $10 billion in a new LNG facility in Cameron Parish that will employ carbon capture and sequestration (CCS) technology to reduce 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 tons 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 deepwater Calcasieu Ship Channel.
"Venture Global has invested significantly in Louisiana's economy, and I am proud to celebrate this exciting new project with them," said Gov. John Bel Edwards. "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.
"CP2 will be located in Cameron Parish, adjacent to our existing Calcasieu Pass terminal," said Venture Global LNG CEO Mike Sabel. "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."
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.
For more information, visit www.venturegloballng.com or www.opportunitylouisiana.com.
