Latest news with #VentureGlobal
E&E News
3 days ago
- Business
- E&E News
Regulator OKs some construction at Louisiana gas export terminal
The developer of a large gas export terminal in Louisiana can move ahead with a limited set of construction activities, federal regulators said Friday, a week after they reaffirmed the project's authorization. Venture Global can proceed with a handful of activities tied to the company's CP2 LNG project planned in the southwest part of the state, the Federal Energy Regulatory Commission said in a brief letter signed by an official in the agency's gas branch. Those activities include the construction of temporary facilities, like access roads and parking areas, as well as site preparation and the installation of water wells, the letter said. Advertisement The approval, or 'limited notice to proceed with construction,' does not give CP2 'the authority to construct other project facilities at the LNG terminal,' it continued. A separate letter from the commission's LNG branch, also issued Friday, said Venture Global could start on construction activities tied to a storm surge wall.
Yahoo
3 days ago
- Business
- Yahoo
Venture Global's 28 MTPA CP2 LNG Plant Receives FERC Approval
Venture Global, Inc. VG has recently received the necessary approvals from the U.S. regulatory authorities for the construction of the CP2 liquefied natural gas ('LNG') plant in Louisiana. A document by the Federal Energy Regulatory Commission ('FERC') confirmed the same. Venture Global had previously received approval for the construction of the CP2 LNG project from the FERC. However, following a ruling by a U.S. Court of Appeals regarding a similar LNG project, the FERC decided to conduct an additional assessment of the impact of this project on the region's air quality. The study concluded that the construction of the LNG project should be allowed to continue. The regulatory approvals for the projects came in after the final environmental review showed that the project would not have a material impact on the area's air quality, and the construction of the plant is in the public interest. The CP2 LNG plant will be constructed adjacent to VG's Calcasieu Pass LNG facility in Louisiana. The construction of the 28 million metric tons per annum (MTPA) LNG plant should support the export capabilities of the United States and solidify its position as the largest exporter of natural gas. The CP2 plant is expected to be the largest LNG export facility in the country. The completion of the plant could also make Venture Global the largest LNG company in the United States. After receiving approval from the regulatory authorities, the company's CEO has stated that the on-site construction of the project will begin immediately. The supplemental environmental review for the CP2 project came in after a ruling by the U.S. Court of Appeals for the District of Columbia Circuit against NextDecade Corporation's LNG plant at the Port of Brownsville. This overturned the FERC's prior approval for the construction of the plant. Following this, the FERC decided to closely assess the impact of the CP2 LNG plant on the air quality of the region. The CP2 LNG project in Louisiana has been caught in a conflict between the energy sector and environmentalists who are seeking to limit the expansion of LNG projects in the United States. VG currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks from the energy sector are Flotek Industries Inc. FTK, Energy Transfer ET and RPC, Inc. RES. Flotek Industries presently sports a Zacks Rank #1 (Strong Buy), while Energy Transfer and RPC carry a Zacks Rank #2 (Buy) each. You can see the complete list of today's Zacks #1 Rank stocks here. Flotek Industriesspecializes in green chemistry, which provides innovative solutions aimed at reducing the environmental impact of the energy industry. Flotek develops specialty chemicals tailored for both domestic and international energy producers, as well as oilfield service companies. These chemicals not only help reduce the environmental impact of hydrocarbon production but also lower operational costs. Energy Transfer is a midstream player that owns and operates one of the most diversified portfolios of energy assets in the United States. Boasting a pipeline network extending more than 125,000 miles, its network spans over 44 states. With a presence in all the major U.S. production basins, the company's outlook seems positive. RPC generates strong and stable revenues through a diverse range of oilfield services, including pressure pumping, coiled tubing and rental tools. The company is strongly committed to returning value to its shareholders through consistent dividend payments and share buybacks, making it an attractive choice for investors seeking steady returns. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Energy Transfer LP (ET) : Free Stock Analysis Report RPC, Inc. (RES) : Free Stock Analysis Report Flotek Industries, Inc. (FTK) : Free Stock Analysis Report Venture Global, Inc. (VG) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
3 days ago
- Business
- Reuters
US regulators approve some construction at Venture Global's CP2 LNG plant
HOUSTON, May 30 (Reuters) - U.S. regulators gave Venture Global (VG.N), opens new tab permission on Friday to proceed with some construction activities at its proposed CP2 LNG facility in Louisiana, according to a Federal Energy Regulatory Commission document. Venture Global is proposing to build a 20 million metric tons per annum plant at Calcasieu Pass. FERC approved the plant's entire construction last week. If constructed, CP2 would be the largest LNG plant in the U.S., helping the country remain the leading exporter of the superchilled gas and making Venture Global the country's largest LNG exporter. The plant has been at the center of a fight between the energy sector and environmentalists seeking to limit future LNG projects on the U.S. Gulf Coast. Venture Global has not yet given the project the final financial go-ahead, but its CEO Mike Sabel said in an earnings call this month that the company had already spent $5 billion on the project and raised another $3 billion to continue work.
Yahoo
3 days ago
- Business
- Yahoo
Venture Global, Inc. Announces Record Date for Cash Dividend
ARLINGTON, Va., May 30, 2025--(BUSINESS WIRE)--The Venture Global, Inc. ("Venture Global") (NYSE: VG) board of directors determined today that the per share amount of its previously declared cash dividend shall be $0.0165 per share, or approximately $40 million in the aggregate, payable on June 30, 2025 to holders of its outstanding Class A common stock and outstanding Class B common stock, and that the record date shall be the close of business on June 10, 2025. About Venture Global Venture Global is a long-term, low-cost provider of U.S. LNG sourced from resource rich North American natural gas basins. Venture Global's business includes assets across the LNG supply chain including LNG production, natural gas transport, shipping and regasification. Venture Global's first facility, Calcasieu Pass, commenced producing LNG in January 2022 and achieved commercial operations in April 2025. The company's second facility, Plaquemines LNG, achieved first production of LNG in December 2024. The company is currently constructing and developing over 100 MTPA of nameplate production capacity to provide clean, affordable energy to the world. Venture Global is developing Carbon Capture and Sequestration projects at each of its LNG facilities. View source version on Contacts Investor Contact Ben NolanIR@ Media Contact Shaylyn Hynespress@
Reuters
4 days ago
- Business
- Reuters
Edison confident of positive outcome in Venture Global LNG arbitration
MILAN, May 29 (Reuters) - The chief executive of Italian utility Edison ( opens new tab said on Thursday he was confident of a positive outcome in arbitration involving U.S. liquefied natural gas supplier Venture Global (VG.N), opens new tab, expected by the end of the year. Edison is one of several European energy companies, including Shell (SHEL.L), opens new tab, BP (BP.L), opens new tab and Galp ( opens new tab, that have filed arbitration claims saying Venture Global deliberately failed to fulfil its supply contracts, dragging its feet when commissioning one of its plants so it could profit from higher spot prices. Commissioning, or making sure a new plant's systems are functioning as intended, can take months, but the process dragged on at Calcasieu Pass due to a number of unforeseen circumstances, Venture Global has said. "From our point of view, we think we are totally right... We think there is very clear evidence," Edison's Nicola Monti said on the sidelines of a company presentation. Edison received its first cargo of liquefied natural gas (LNG) from Venture Global in mid-May, two and a half years after it had initially agreed under a long-term contract signed with the U.S. supplier in 2017. Italy's biggest LNG importer will receive 1.4 billion cubic metres of the gas from Venture Global each year under the agreement. Edison also imports LNG from Qatar, Libya, Algeria and Azerbaijan and it is interested in increasing supply from both Qatar and the United States as the two countries bring additional capacity to the market, Monti said. New contracts with U.S. LNG suppliers could start in 2028-2029, Edison's Chief Financial Officer Ronan Lory said. "Italy used to be dependent on Russia for 40% of its gas imports and now Algeria is its privileged supplier, there is room for more diversification," Monti said. Between 2023 and 2024, Edison invested 1.2 billion euros ($1.36 billion) of the 10 billion euros earmarked by 2030 to expand renewable and flexible generation, value-added services for customers, and its gas and green gas portfolio. ($1 = 0.8853 euros)
