Venture Global Seeks FERC Approval for Third LNG Plant in Louisiana

Venture Global, Inc. VG, a U.S.-based liquefied natural gas production and transportation company, has recently written a letter to the chairman of the Federal Energy Regulatory Commission (“FERC”). In this letter, the company seeks the approval of the regulatory body by June 26, 2025, to construct its CP2 plant in Louisiana.VG noted that it already plans to make a final investment decision (FID) on this plant, which is also its third liquefaction plant in Louisiana. However, the natural gas company needs the FERC’s approval to move ahead with the FID. The regulatory body had previously revoked its approval for this project due to concerns about the plant’s environmental impact, particularly its impact on the area’s air quality.This triggered a supplemental environmental study on the plant’s impact on regional air quality. The second environmental evaluation conducted by the FERC concluded that the plant would have no significant impact on air quality.The United States is the largest exporter of liquefied natural gas (LNG) globally, and Venture Global has a huge role to play in this development. The company is the second-largest LNG exporter in the country. Additionally, the construction of the CP2 plant, with a capacity of 28 million metric tons per annum (MTPA), will support the United States in solidifying its position as the world's largest LNG exporter. The CP2 plant in Louisiana could become the largest LNG export facility in the country if its construction is approved by the regulatory body.VG’s Zacks Rank and Other Key PicksVG currently carries a Zacks Rank #2 (Buy).Some other top-ranked stocks from the energy sector are Diversified Energy Company plc DEC, Expand Energy Corporation EXE and RPC, Inc. RES, each carrying a Zacks Rank #2 at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Diversified Energy Company is an independent oil and natural gas producer in the United States. The company is primarily engaged in the production, transportation, and marketing of natural gas and natural gas liquids. The rising demand for natural gas as a cleaner-burning fuel and an uptick in the commodity’s prices are expected to positively impact the company’s bottom line.Expand Energy is a leading U.S.-based natural gas producer formed through the merger of Chesapeake Energy Corporation and Southwestern Energy Company. Natural gas is expected to play an increasingly important role in the energy transition journey. Expand Energy is poised to benefit from the rising demand for natural gas as a cleaner-burning fuel. The recent rise in natural gas prices is also anticipated to positively impact EXE’s profitability.RPC generates strong and stable revenues through a diverse range of oilfield services, including pressure pumping, coiled tubing and rental tools. RPC is strongly committed to returning value to shareholders through consistent dividends and share buybacks, making it an attractive choice for investors looking to earn steady returns.5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Diversified Energy Company PLC (DEC): Free Stock Analysis Report RPC, Inc. (RES): Free Stock Analysis Report Venture Global, Inc. (VG): Free Stock Analysis Report Expand Energy Corporation (EXE): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks