The CP2 LNG plant site is situated adjacent to Venture Global’s existing Calcasieu Pass liquefaction plant in Louisiana, which commenced commercial operations in April last year.
Venture Global reached a final investment decision (FID) on the $8.6 billion second phase of the CP2 LNG project on March 13.
CP2 will have a peak production capacity of 29 mtpa and has contracted to sell nearly all of its nameplate capacity on a long-term basis with customers predominantly located in Europe and Asia.
However, Venture Global previously said it expects to add approximately 13 mtpa of bolt-on capacity at both CP2 and its Plaquemines LNG plant, or approximately 6.4 mtpa at each.
Sabel said on Tuesday during the company’s first-quarter earnings call that the company is updating its near-term development plan to include the full expansion of CP2, which is 12 trains, or 10 mtpa.
He said the Plaquemines expansion bolt-on plans remain unchanged at around 6.4 mtpa with optionality for additional trains.
Answering a question regarding the CP2 bolt-on, Sabel said the only change that Venture Global made was increasing the plans from 8 trains to 12 trains.
“We increased that in a pretreatment plant and a few extra turbines in the power plant,” he said.
“The decision to increase the size is.. just our demand is so strong, and our team’s success in selling 3 million tons and growing of our 5-year deals really makes that growth much more comfortable for usm” he said.
“And we expect more middle and long-term deals as well,” he said.
“Keep in mind that those bolt-ons will turn on much faster than what we build today. Which is massively accretive for us. And also makes the financing more attractive,” Sabel said.
