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American liquefied natural gas producer Venture Global is moving forward with the second phase of its CP2 LNG plant in Louisiana (POLITICO Pro, subscription).

What’s going on: The Arlington, Virginia–headquartered company has secured $8.6 billion in financing for the project in southwestern Louisiana, it announced late last week, “roughly seven months after it locked in more than $15 billion for the project’s initial phase.”

• Once fully operational, the CP2 export terminal will be the largest American exporter of LNG, Venture Global said.
• Last fall, the endeavor got final approval to export LNG to countries without U.S. free trade agreements.

The backdrop: The “decision to proceed with CP2’s second phase is the first final investment decision for the U.S. LNG sector in 2026.”

• It also follows the 10th anniversary—celebrated last month by the administration—of the first export cargo of American LNG produced by the lower 48 states.
• “U.S. LNG exports are forecast to average 16.7 billion cubic feet a day this year—up from 15.1 bcf per day in 2025,” according to a recent Department of Energy report. 

Our view: The NAM has long supported CP2’s construction.

• “Oil and natural gas have been indispensable to Louisiana, indispensable to our nation [and] indispensable to manufacturing leadership in the United States,” said NAM President and CEO Jay Timmons last September in Louisiana at the American Council for Capital Formation’s Energy Summit 2025.