Venture Global LNG's Louisiana Project Nears Export Approval Amid Environmental Debates

The Trump administration is poised to grant Venture Global LNG conditional approval to export natural gas from a proposed Louisiana facility. Despite environmental opposition, the U.S. Energy Department plans to authorize exports soon. Final approval depends on federal regulators, amid fluctuating company stock prices.

The Trump administration is on the verge of giving a green light to Venture Global LNG for conditional export of natural gas from its proposed facility in Louisiana, according to Bloomberg News. This decision marks a shift from the previous delays faced under President Joe Biden's tenure.

The U.S. Department of Energy is reportedly ready to sanction widespread exports from Venture Global's CP2 project as early as Wednesday. However, the initiative still awaits the final nod from federal regulators, sources revealed.

The energy firm's CP2 project has ignited controversy with environmental advocates opposing future LNG projects along the U.S. Gulf Coast. While the Federal Regulatory Energy Commission once approved the construction of the facility, concerns over environmental impacts prompted calls for further reviews, affecting the firm's stock price, which plummeted by 33% last month.

(With inputs from agencies.)