Executives are now eyeing a July start and expect to export up to 20 cargoes from the complex during next year’s third quarter.
By Geert De Lombaerde
Oil & Gas Journal
The leaders of Venture Global Inc., Arlington, Va., have moved up to July the date at which they expect to produce the company’s first LNG from its CP2 complex in Louisiana.
Venture Global's CP2 liquefaction plant under construction in Cameron Parish, La.
Chief executive officer Mike Sabel had previously told investors that Venture Global were targeting the second half of 2027 for first LNG at CP2, whose first two phases under construction will comprise 36 liquefaction trains and have a capacity of about 29 million tonnes/year (tpy). Lenders have committed about $43 billion to the first two phases of the project in Cameron, south of Lake Charles.
Three months ago, Sabel said he was “being precise” using the second-half language because of the many variables involved in construction. Speaking on Nov. 10 after Venture Global reported its third-quarter results, he told analysts that workers’ progress means first LNG will come just 24 months after Sabel and his team took their final investment decision on the project. Operations, he said, should ramp quickly.