CAMERON PARISH — Venture Global has finalized a $15.1 billion financing package and made a final investment decision to move forward with Calcasieu Pass 2 (CP2), its second liquefied natural gas (LNG) export facility in Cameron Parish.
The company announced on July 28 that the deal represents the largest project financing ever secured for a U.S. LNG development. Major financial institutions from the U.S., Europe, and Asia—among them Bank of America, Deutsche Bank, J.P. Morgan, Barclays, and Mizuho—participated in the transaction. Venture Global emphasized that the funding was secured without any outside equity investment.
“This project, fully owned by Venture Global and our shareholders, is expected to deliver reliable American LNG to the world beginning in 2027,” said Mike Sabel, Venture Global CEO, in a statement.
Construction on CP2 began in June. Once completed, the facility is expected to support approximately 7,500 construction jobs and create around 400 permanent positions.
The company also noted it has secured long-term supply agreements for CP2 with major global buyers, including ExxonMobil, Chevron, and China Gas.
The CP2 project adds to Louisiana’s fast-growing LNG sector, which has expanded significantly since 2010 when Cheniere Energy became the first company to seek federal approval to export LNG from its Sabine Pass terminal. Since then, three additional export facilities have opened in the state, including Venture Global’s Plaquemines LNG, which entered production in December.
Venture Global announced in March an $18 billion expansion of the Plaquemines site. Once complete, it is expected to become the largest LNG export terminal in North America.
LNG activity in southwest Louisiana continues to accelerate. In April, Woodside Energy committed to building a $17.5 billion export facility in Calcasieu Parish, with production slated to begin in 2029.
In its release, Venture Global stated: “Venture Global is proud to announce a positive final investment decision (FID) and successful closing of the $15.1 billion financing for Phase 1 of CP2 LNG and the CP Express pipeline.
Wider Energy Environment
At the 43rd annual global energy conference, CERAWeek 2025 in March, Daniel Yergin, Vice Chairman of S&P Global and author of "The New Map: Energy, Climate and the Clash of Nations", said that multitude factors are having profound implications for markets, investment, supply chains, geopolitics and competitive strategies.
“When it comes to charting pathways to the energy future, change is proving to be the one constant,” said Yergin. “New governments and regulatory shifts, the transformative potential of artificial intelligence, technology advances, continued fragmentation of the global economic order, geopolitical rivalry and persistent conflict—these are just some of the factors with the potential to challenge assumptions and impact plans. Successfully navigating this evolving landscape and meeting the world’s need for secure, reliable and affordable energy will require keen insights and innovative strategies."
Louisiana’s extensive energy infrastructure—including nearly 50,000 miles of integrated pipelines spanning every major highway, railroad, and navigable waterway—positions the state to remain a central force in the U.S. energy sector. As projects like CP2 move forward, Louisiana is expected to continue playing a critical role in advancing national energy security and economic growth.
LNG - Controversy Over "Green" Label
Louisiana has joined Indiana, Ohio, and Tennessee in legally redefining natural gas as “green energy,” with Governor Jeff Landry signing Act 462 into law in June.
“This bill sets the tone for the future and will help the state pursue energy independence and dominance,” Gov. Landry said.
But critics say the law could allow funds meant for clean energy initiatives to be used to support natural gas, which emits carbon dioxide and leaks methane, a potent greenhouse gas. In Louisiana, natural gas powers nearly 80% of the electric grid.
Environmental groups warn this move is part of the fossil fuel industry’s efforts to rebrand natural gas as climate-friendly and hinder the shift to renewable energy sources such as solar, wind, hydro, and geothermal.
About Venture Global CP2 LNG
The project is in advanced stages of engineering. The CP2 LNG terminal facility will be located on an approximately 1,150 acre site adjacent to Venture Global’s Calcasieu Pass LNG facility in Cameron Parish, Louisiana. The associated marine facility will be located on Monkey Island, between the Calcasieu Ship Channel and Calcasieu Pass. The proposed CP Express natural gas pipeline will originate in Jasper County, Texas and pass through Newton County, Texas and Calcasieu Parish, Louisiana before it ends at the CP2 LNG terminal in Cameron Parish.
