Share This:

Louisiana Governor Edwards, Venture Global Announce Investment of $10 Billion+ in Cameron

Published December 02, 2021

Louisiana Governor John Bel Edwards and Venture Global LNG CEO Mike Sabel announced a $10 billion investment in a new liquefied natural gas facility in Cameron Parish that will use carbon capture and sequestration technology (CCS) to minimize CO2 emissions. At least 200 new direct positions will be created as a result of the initiative, with average annual incomes of $120,000 plus perks. According to Louisiana Economic Development, the project will create 867 indirect jobs in Southwest Louisiana, for a total of 1,067 jobs. An average of 2,300 construction jobs will be produced at the peak of construction.

The CP2 project, which will be built by Venture Global, will have a nameplate capacity of 20 million metric tonnes per annum (MTPA) of LNG. The CCS method will be utilized to capture and store 500,000 tons of CO2 emissions from the facility each year underground. The complex will be built on 650 acres in Cameron, with 170 acres on Monkey Island, giving CP2 direct access to the 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 built in two stages, with 18 liquefaction blocks, four 200,000 cubic meter full-containment LNG storage tanks, two maritime loading terminals, and two combined cycle gas turbine power plants on-site. The property will also include administrative offices, an on-site fire station, and maintenance structures. Natural gas will be delivered to Venture Global’s CP2 facility in Cameron via the CP Express pipeline.

“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.”

Venture Global LNG is a global provider of US LNG with headquarters in Arlington, Virginia. The CP2 LNG project will be built, owned, and operated by Venture Global’s fully owned subsidiaries, Venture Global CP2 LNG, LLC and Venture Global CP Express, LLC. The Calcasieu Pass plant, located in Cameron, and the Venture Global Plaquemines LNG project in Plaquemines Parish are among the other facilities that Venture Global is building or developing in Louisiana.

“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.”

The company is expected to take advantage of Louisiana’s Quality Jobs and Industrial Tax Exemption programs to help with the project.

“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.”