Venture Global to invest $10 billion in new Cameron Parish LNG facility
Cameron, LA (KPLC) - Venture Global has announced that it will be investing over $10 billion in a new liquefied natural gas (LNG) facility in Cameron Parish.
The new plant will employ carbon capture and sequestration technology to reduce carbon dioxide emissions. The project is expected to result in 200 direct new jobs, with average salaries of $120,000 alongside benefits. Louisiana Economic Development also estimates that the project will result in 867 indirect jobs not counting construction jobs during the building phase.
The new facility, named CP2, will have a nameplate capacity of 20 million metric tonnes per annum of LNG. It will also capture and store underground an estimated 500,000 tons of carbon dioxide emissions per year. According to Gov. Edwards, the carbon capture method will help Louisiana with its goal of net-zero emissions by 2050.
The complex will allocate 650 acres in Cameron Parish, including 170 acres on Monkey Island which will provide the facility with direct access to the deep-water Calcasieu Ship Channel.
The site will be constructed in two phases and will include 18 liquefaction blocks, four 200,000 cubic-meter full-containment LNG storage tanks, two marine loading berths, and two on-site combined cycle gas turbine power plants. Administrative offices, an on-site fire station, and maintenance structures are also planned for the site. The CP Express pipeline will deliver natural gas to Venture Global’s CP2 facility in Cameron.
To facilitate the project in Louisiana, the company is expected to utilize the state’s Quality Jobs and Industrial Tax Exemption programs.
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