Jul. 3 at 1:43 PM
$VG Suprised by price action on this announcement. Petronas SPA brings Venture Global’s CP2 Phase 1 offtake commitments to 10.75 MTPA out of 14.4 MTPA, or roughly 75% contracted, which is significant. That’s above the threshold typically cited (~65%–70%) for FID readiness in U.S. LNG projects.
Taken together with:
• The recent S&P credit upgrade for Calcasieu Pass,
• The FERC authorization to introduce gas into Plaquemines Phase 2,
• And VG’s confirmation of commercial operations at Calcasieu Pass,
it strongly suggests FID announcement for CP2 is very close.