CP2 was the first U.S. liquefied natural gas (LNG) project in 2023 to receive a final investment decision as the country seeks to expand exports of the super-chilled gas to meet growing global demand.
FERC said the potential impacts of the project would not significantly affect local resources, adding that the commission had developed specific mitigation measures for the construction and operation of the project.
Implementation of mitigation measures would avoid or reduce the impact of CP2 and CP Express, of a proposed connecting natural gas pipeline from Texas to the LNG facility, the regulator said in its environmental impact statement.
The construction and operation of the project would increase the atmospheric concentration of greenhouse gases, but the FERC said it would not classify it as "significant or insignificant" and instead would made several recommendations to reduce its effects.
Venture Global said the decision puts the company on track for a commission vote and commencement of construction later this year.
About 9.25 million tonnes per annum (mtpa) of CP2's 20 mtpa nameplate capacity have been sold under 20-year sales and purchase agreements, with discussions ongoing for the remaining capacity, the company said its statement.
CP2's LNG customers include oil majors ExxonMobil (XOM.N), Chevron (CVX.N) and Japan's top liquefied natural gas buyer JERA among others, the company added.