Venture Global, an American producer of liquefied natural gas (LNG) sourced from North American basins, has offered insight into its agreement with Worley Field Services, an affiliate of Australia’s engineering company Worley, for a second segment of its LNG export project in Louisiana, United States.
In a recent filing to the U.S. Securities and Exchange Commission (SEC), Venture Global revealed the entry into a material definitive agreement on January 30, 2026, when Venture Global CP2 LNG, its wholly-owned subsidiary, sealed an engineering, procurement and construction (EPC) contract for the CP2 Phase 2 with Worley. This deal covers certain design, engineering, procurement, construction management, testing, studies, and related services for the construction of Phase 2 of the U.S. company’s CP2 project.
The Australian firm’s services under the CP2 Phase 2 EPC contract encompass contributing to the design of the balance of the plant and all interconnections including piping, utilities and associated infrastructure, alongside procurement of all items not covered by CP2’s other construction and supply agreements.
The deal also encapsulates scheduling and coordination of the work and services performed by certain subcontractors and other contractors, installation and connection of all equipment supplied by the project’s equipment suppliers, and construction of the power plant forming part of CP2.
In addition, the scope consists of compliance with Worley’s warranty obligations and all applicable laws, codes and standards, and provision of project controls and construction performance indicators and invoice reconciliation.
While Venture Global did not disclose the exact value of the contract, the firm explained that Worley would be paid “a reimbursable sum” for its scope of work, getting repayment for costs incurred in connection with the relevant work, such as those for materials, transportation and equipment, plus a margin to cover overhead costs and expenses as well as an agreed profit margin.
The U.S. LNG player elaborated: “The target price is subject to adjustment under certain limited conditions, including pursuant to change orders CP2 could submit with respect to the scope of work to be performed by Worley or the CP2 project schedule.
“The CP2 Phase 2 EPC contract establishes an agreed project schedule for Worley’s scope of work related to Phase 2 of the CP2 project, including substantial completion deadlines and final completion deadlines for their scope, based on the achievement of the contractual conditions regarding the commissioning and completion of the LNG production systems.”
The final export authorization for Venture Global’s CP2 LNG was obtained last year, following the conditional authorization in March 2025 and was seen as a reflection of the Federal Energy Regulatory Commission’s May 2025 decision approving the siting, construction, and operation of the facility.
The launch of site works and the initiation of full mobilization at the development came after the developer took a final investment decision (FID) in July 2025 and closed the project financing. Worley was tasked with bringing the $28 billion LNG terminal to life.
Located in Louisiana, the LNG terminal will be built at an approximately 1,150-acre site in Cameron Parish, with the proposed CP Express pipeline set to originate in Jasper and Newton County, Texas, before it ends at the CP2 LNG terminal in Cameron Parish, where it will feed natural gas to the proposed LNG facility.
The associated marine facility will be situated on Monkey Island, between the Calcasieu Ship Channel and Calcasieu Pass . CP2 LNG is Venture Global’s third LNG export project, with the Calcasieu Pass project coming online in March 2022 and the Plaquemines LNG project beginning exports in late 2024.
Phase 2 will have a total liquefaction facility of 5.6 mtpa and include ten liquefaction trains and two 200,000 cubic meter storage tanks. Wood Mackenzie claims that the liquefaction trains will be identical to the mid-scale, modular design implemented at the operational Calcasieu Pass LNG terminal.