Vigee plans to build an LNG export facility in Louisiana

ARLINGTON, VA, Dec. 3, 2021 /PRNewswire/ -- Venture Global LNG and Louisiana Gov. John Bel Edwards announced today that the company will invest more than $10 billion to develop Louisiana's fourth LNG export facility. The new project, known as CP2 LNG (hereinafter referred to as "CP2"), will be built in Cameron County, adjacent to Viges LNG's first facility in the Calcasieu Pass. The announced project will boost Viges' total planned capital investments in Louisiana to more than $20 billion. The CP2 project will bring thousands of well-paid jobs and will add $2 billion in local revenue throughout the project lifecycle. The new jobs created directly by the project will earn an average of $120,000 a year, in addition to other benefits.

Mike Sabel, CEO of Viges, said, "Viges is proud to continue to expand its presence in Louisiana through our next project, CP2 LNG. CP2 will be built in Cameron County, adjacent to our existing Calcasieu Pass receiving station. <b>These two projects, together with the Praximin LNG facility we are currently building, bring our investment in Louisiana to</b> more than $<b>20</b> <b>billion and will create thousands of jobs, including long-term positions and job opportunities during construction. </b>Vigee is currently actively building two large LNG export projects, and our mission is to produce the cleanest, low-cost LNG in North America. We are proud to partner with louisiana to develop carbon capture and storage (CCS) technology for our facilities." Under Governor John Bel Edwards, Louisiana is strengthening its position as an international innovation hub to address the energy and climate challenges of our time. ”

<b>Louisiana Gov</b><b>.</b> <b>John Bel Edwards</b> said, "Virgin has invested heavily in Louisiana's economy and I am honored to be with them in celebrating this exciting new project. The CP2 facility in Cameron County will create more than 1,000 new permanent jobs and thousands of construction jobs in the region, which will have a profound impact on our economy. The project will also incorporate clean energy technologies to reduce carbon dioxide emissions into the atmosphere, which is important for our environment. Louisiana strives to achieve net zero emissions by 2050, and projects to implement carbon capture and storage technologies enable our state to sustain industrial development without compromising our long-term carbon reduction goals. ”

Viges also announced today that it has submitted a formal application for the Federal Energy Regulatory Commission (FERC) to authorize it to conduct the site selection, construction and operation of the CP2 LNG facility and the CP2 LNG Pipeline The CP2 LNG Project will build, own and operate a liquefied natural gas (LNG) receiving station with a rated liquefaction capacity of 20 million metric tons per year for the CP2 LNG facility.