U.S. approves immediate additional LNG exports from Plaquemines LNG

With Iranian actions continuing to choke off LNG exports via the Strait of Hormuz, U.S. Secretary of Energy Chris Wright on Friday authorized an immediate 13% increase in exports at Venture Global’s Plaquemines liquefied natural gas (LNG) terminal in Louisiana. The signed export authorization allows additional exports of up to 0.45 billion cubic feet per day (Bcf/d) of U.S. natural gas as LNG to non-free trade agreement (FTA) countries from the Plaquemines LNG Terminal. With this order, Plaquemines LNG is now authorized to immediately export a total of 3.85 Bcf/d to both FTA and non-FTA countries.

“At a time when Iran and its terrorist proxies attempt to disrupt the global energy supply, the Trump Administration remains committed to strengthening American energy dominance,” said Secretary Wright. “Thanks to President Trump and American innovators, the U.S. is not only the largest producer and exporter of LNG but will more than double its LNG exports in the coming years. We will see meaningful additions to U.S. LNG export capacity at Plaquemines immediately and other facilities commencing operations in future weeks and months.”

“Our mission to enable secure, reliable, and affordable energy has never been more important than now,” said Kyle Haustveit, Assistant Secretary of the Hydrocarbons and Geothermal Energy Office. “I am pleased that DOE can take this action to be able to make an immediate difference to help add to global supplies of LNG.”      Plaquemines LNG commenced exports in December 2024 and has rapidly been able to increase its export levels to over 3 Bcf/d. This authorization will allow for an immediate increase in the volumes of LNG that Plaquemines LNG can export to non-FTA countries, which import the majority of U.S. LNG.      Secretary Wright’s announcement came the same day that Venture Global, Inc. (NYSE: VG) announced a final investment decision (FID) and successful closing of an $8.6 billion project financing for the second phase of the company’s third project, Venture Global CP2 LNG (CP2). When combined with the Phase One financing for CP2 announced July 2025, says Venture Global, this milestone represents the largest standalone project financing in the U.S. bank market. The transaction gained enormous interest from the world’s leading banks, resulting in over $19 billion of commitments for Phase Two in addition to the previous $34 billion of commitments for Phase One, and required no outside equity investment.

“We are extremely proud to have taken FID on the second phase of CP2, our third greenfield project, bringing Venture Global’s executed capital markets transactions to more than $95 billion,” said Venture Global CEO Mike Sabel. “The tireless dedication of our team has enabled us to reach five final investment decisions in less than seven years, positioning us to become the largest U.S. exporter of LNG once CP2 is fully online. With the Phase Two financing secured, we will build on the strong construction progress already underway and deliver reliable American LNG to customers around the world.”

CP2 will have a peak production capacity of 29 MTPA and has contracted to sell nearly all of its nameplate capacity on a long-term basis with customers predominantly located in Europe and Asia. Venture Global now has a total contracted capacity of over 49 MTPA, or nearly all of its nameplate capacity, across all three of its projects in Louisiana.