(Bloomberg) -- Venture Global LNG Inc. is considering building a fifth project on the US Gulf Coast that would put it on track to become the nation’s largest exporter of the fuel, according to a document seen by Bloomberg.
The project, named CP3, would be in Louisiana near its existing plant at Calcasieu Pass, according to a document prepared ahead of the company’s potential initial public offering.
A spokesperson for Venture Global declined to comment.
The LNG producer plans to file for an initial public offering, the first energy company to do so in the wake of Donald Trump’s election win. The proposed new project and IPO come as the exporter is in midst of arbitration with several companies including oil majors Shell Plc. and BP Plc. over contract disputes.
Venture Global operates its Calcasieu Pass LNG plant in southwestern Louisiana and is nearing the completion of its second project, Plaquemines, south of New Orleans. Two more projects in the state, CP2 and Delta LNG, are under development.
The company is proposing to export 30 million metric tons of the fuel a year via CP3, which has not yet been publicly disclosed. If completed, it would be Venture Global’s largest project to date, according to the document. The company plans to make a final investment decision as soon as 2027 with a targeted start up date of 2031.
The project would boost Venture Global’s plans to reach 100 million tons a year in capacity, a target the company announced in September 2023 following expansion of its partnership with equipment provider Baker Hughes Co.
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