Venture Global and Eni have signed a 20-year sales and purchase agreement for two million tonnes per annum (MTPA) of liquefied natural gas (LNG) from the former’s CP2 LNG project in the US.
This agreement marks Eni’s first long-term partnership with a US LNG producer, contributing to the 43.5MTPA total contracted capacity across Venture Global’s projects.
Located in Cameron Parish, Louisiana, the CP2 LNG project aims to produce up to 28MTPA of LNG, facilitated by the CP Express pipeline. So far, nearly 13.5MTPA of CP2 Phase One has been sold by Venture Global to various customers in Europe, Asia and in other parts of the world.
Spanning approximately 146.4km across Louisiana and Texas, the pipeline is designed to transport four billion cubic feet of natural gas daily from supply points in east Texas and southwest Louisiana.
Venture Global CEO Mike Sabel said: “We are honoured that Eni, a leading innovator and global gas player, has chosen Venture Global as their first American LNG supplier. Italy is an important ally and trading partner to the US, and we are grateful for the trust of Eni as our newest customer.
“This deal marks a significant milestone for the company and is further recognition of our growing global energy leadership and strong record of execution.”
In May 2025, Venture Global secured $3bn in financing commitments from 19 banks for the development of the CP2 project. These funds will cover manufacturing, procurement, and related costs for the facility along the Calcasieu Ship Channel.
During the same month, the staff of the US Federal Energy Regulatory Commission (FERC) had issued a final supplemental environmental impact statement for both the CP2 LNG and CP Express Pipeline projects. This follows a November 2024 rehearing order which partially set aside an earlier authorisation after concerns over cumulative air quality impacts were raised during a court decision in the case of Healthy Gulf v. FERC.
Last month, Venture Global launched site work at CP2 LNG after receiving final approvals and Notices to Proceed from FERC, along with non-Free Trade Agreement (FTA) export authorisation from the US Department of Energy.
Once operational, CP2 is expected to provide LNG to clients in Europe, Japan, and other regions. Furthermore, the project anticipates supporting approximately 3,000 jobs in Louisiana—400 of which will be permanent positions at CP2.
At peak construction, CP2 is expected to employ about 7,500 direct construction workers and create additional indirect employment opportunities across over 30 US states.
