Good news for the US and good news for Europe: Venture Global’s CP2 LNG project just received non-FTA export approval, which should accelerate the FID process, started earlier this month.
The majority of CP2’s volumes are sold out to European buyers (primarily Germany) and a handful of portfolio players, altogether accounting for around two-thirds of the long-term contracts.
No US LNG project took FID since January 2024, when the Biden administration imposed its temporary pause on non-FTA LNG export authorisation… this was a major blow to project developers in the US.
Now that this is over, the race for FIDs is on… and we have a clear contender to break the ice. CP2 has all of what it takes: long-term contracts, topnotch low-cost tech and available cheap feedgas.
What is your view? Will US LNG FIDs be back in 2025? Which projects would you bet on?
Source: Greg Molnar
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