In its annual report dated March 6, 2026, Venture Global revealed that the CP2 LNG project in Cameron Parish, Louisiana, now carries an estimated price of $33.5 billion. This represents a substantial increase of $4 billion to $5.5 billion over earlier projections of $28 billion to $29.5 billion. The updated costs come as the project takes a prominent role in the U.S. push for “energy dominance,” following recent federal approvals that pave the way for large-scale international LNG exports.
Rising Costs and Expanded Ambitions
The shift in project economics—now estimated between $32.5 billion and $33.5 billion—is driven by a combination of global inflationary pressures, rising material costs, and strategic design enhancements. Developer Venture Global has not let the rising costs slow the project’s momentum; instead, they have applied to increase the terminal’s authorized export capacity. The goal is to move from the original 28 million metric tons per annum (mtpa) to a staggering 35 mtpa, a move that justifies the increased capital expenditure by positioning the facility as one of the largest LNG export hubs on the planet.
Federal Greenlight for Global Export
This financial surge coincides with a pivotal regulatory milestone. On March 19, 2025, U.S. Energy Secretary Chris Wright issued conditional approval for the CP2 LNG project to export liquefied natural gas to non‑free trade agreement (non‑FTA) countries. That decision represented the fifth LNG‑related action by the U.S. Department of Energy in its recent permitting push.
On March 19, 2025, in Washington, D.C., U.S. Energy Secretary Chris Wright said, “The benefits of expanding U.S. LNG exports have never been more clear…” as part of the announcement granting the CP2 LNG project conditional approval to export liquefied natural gas to non‑FTA countries under the Department of Energy’s export authorization.
On February 28, 2026, Venture Global signed a 20‑year LNG sales agreement with Hanwha Aerospace to supply 1.5 million tonnes per year of U.S. LNG from the CP2 project, adding to its growing portfolio of long‑term contracts and reinforcing market demand for the facility.
Terminal and Pipeline Infrastructure
Located on a 1,150-acre site in Cameron Parish, the CP2 LNG project is an integrated infrastructure marvel. Once operational, it will export up to 3.96 billion cubic feet per day. Key features include:
Liquefaction Technology: The site will utilize 36 modular liquefaction trains and four massive storage tanks to process incoming gas.
CP Express Pipeline: This 91.4-mile feeder line will originate in Jasper County, Texas, passing through Newton County and Calcasieu Parish, Louisiana, to provide the necessary feed gas.
Marine Operations: A specialized terminal on Monkey Island, situated between the Calcasieu Ship Channel and Calcasieu Pass, will handle the loading of global LNG tankers.
Sustainability & Power: To minimize its footprint, the project includes a 1,470 MW on-site power plant and a carbon capture system designed to sequester 500,000 tons of annually.
With construction progressing and the first liquefaction units arriving in 2025, the project remains on track for a late 2027 operational start.
As U.S. energy companies continue investing in large-scale natural gas projects, from CP2 LNG in Louisiana to pipeline expansions in Mississippi like Texas Eastern’s Line 31 Project, the Gulf Coast region is seeing significant infrastructure growth.
Fact Sheet: CP2 LNG Project
Primary Update: Total cost increased to US$32.5B – $33.5B
Developer: Venture Global LNG
Location: Cameron Parish, Louisiana
Current Status: Under Construction / Federal Export Approval Granted
Expanded Capacity: 35 Million Metric Tons Per Annum (mtpa)
Daily Export Volume: Approx. 3.96 Billion Cubic Feet (Bcf/d)
Pipeline: CP Express (91.4 miles, 48-inch diameter)
Marine Hub: Monkey Island (Calcasieu Ship Channel)
Emissions Control: 500,000 tons/year Carbon Capture (CCS)
Target Start Date: Late 2027
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