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Japan Companies Urge FERC for Prompt CP2 LNG Approval

LNG

Japan’s oil and gas producer Inpex Corp and power utility JERA are looking for US energy regulator FERC to give prompt approvals for construction to begin on the Venture Global CP2 LNG project in Louisiana according to Reuters.

  • Both companies reiterated the role of the CP2 LNG project in securing Japan's energy supply which Inpex said was also a position supported by the country's economy ministry.
  • Inpex and Jera have 20-year SPA to each buy 1mtpa of LNG from CP2 LNG.
  • Venture Global LNG has contracts in place for nearly half the 20mtpa capacity also including 2.25mtpa with SEFE and 1mtpa with Chevron.
  • Early site work started in the spring of 2023 and Inpex hoped for construction to begin early next year.

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