Venture Global signs Worley for CP2 work

US LNG developer Venture Global has contracted Australian engineering company Worley for a reimbursable engineering, procurement and construction (EPC) contract for the first phase of its CP2 LNG export terminal in Louisiana, Worley said on May 10.

Under the contract, Worley will provide full EPC execution, including engineering, procurement, direct-hire construction, commissioning and start up for phase one of CP2. The contract, once signed, will be led by Worley’s Houston and Reading offices and supported by Worley’s Global Integrated Delivery offices in India.

The full notice to proceed is expected to be issued after Venture Global takes a final investment decision. Venture Global expects to commence construction on the CP2 LNG project later in 2023, following receipt of Federal Energy Regulatory Commission authorisation.

"The parties expect to finalise and sign the reimbursable EPC contract in the near future", Worley said.

CP2 LNG is Venture Global's third project and is expected to commence construction later this year. To date, the company has announced SPAs for over a third of the 20mn mt/yr nameplate facility with active discussions ongoing for the remainder of its capacity.

Last month, Venture Global reached a financial close and took a final investment decision on the $7.8bn second phase of its 20mn mt/year Plaquemines LNG terminal in Louisiana. The first 10mn mt/yr phase at Plaquemines was sanctioned in May 2022.