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Venture Global and Worley agree substantive terms for Phase 1 of CP2 LNG terminal

Published by , Senior Editor
Tanks and Terminals,

Venture Global CP2 LNG LLC (Venture Global) and Worley have agreed substantive terms for a reimbursable engineering, procurement and construction (EPC) contract for Phase 1 of Venture Global’s CP2 liquefied natural gas (LNG) terminal in Louisiana, US.

The parties expect to finalise and sign the reimbursable EPC contract in the near future.

Under the contract, Worley will provide full EPC execution, including engineering, procurement, direct-hire construction, commissioning and start up for Phase 1 of CP2, a low-carbon LNG terminal. The reimbursable EPC contract, once signed, will be led by Worley’s Houston and Reading offices and supported by Worley’s Global Integrated Delivery (GID) offices in India.

Under the contract, 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 (FERC) authorisation.

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