Venture Global (VG) Receives Final Approval to Export LNG from CP2 Plant

Venture Global, Inc. (NYSE:VG) is one of the 10 Stocks Under $20 to Buy According to Analysts. On October 22, Venture Global, Inc. (NYSE:VG) announced that the US Department of Energy gave the final non-Free Trade Agreement (FTA) export authorization for its CP2 facility in Cameron Parish, Louisiana.

This approval from the Trump administration will allow the company to supply liquified natural gas from its CP2 plant to countries that do not have a free trade agreement with the US. Venture Global, Inc.’s (NYSE:VG) management believes this approval will greatly benefit the US balance of trade.

Venture Global, Inc. (NYSE:VG) plans to safely and quickly complete its CP2 project, which is currently under construction. The company aims to start supplying liquified natural gas from its CP2 plant in 2027.

According to Reuters, Venture Global, Inc. (NYSE:VG) will be able to export 28 million metric tons per annum (mtpa) of natural gas to non-FTA countries. Many countries in Europe and Asia do not have FTA agreements with the US and companies require permission to supply liquified natural gas to such markets.

Venture Global, Inc. (NYSE:VG) is an American company that produces and exports liquefied natural gas (LNG).

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Disclosure: None. This article is originally published at Insider Monkey.