BATON ROUGE, La. (KLFY) Gov. John Bel Edwards and Venture Global LNG CEO Mike Sabel announced the company will invest more than $10 billion in a new liquefied natural gas (LNG) facility in Cameron Parish to reduce carbon dioxide (CO2) emissions and create jobs.

The project will employ carbon capture and sequestration technology to store an estimated 500,000 tons of CO2 emissions from the facility annually. The project will create at least 200 direct new jobs, with average annual salaries of $120,000. Louisiana Economic Development estimates the project will also result in 867 indirect jobs. At the peak of construction, an average of 2,300 construction jobs will also be created.

Gov. Edwards says, “The CP2 facility in Cameron will create more than 1,000 new permanent jobs and thousands of construction jobs in the area, which will have a significant impact on our economy. And it is incorporating clean energy technology that reduces the amount of CO2 released into the atmosphere, which is significant for our environment. As Louisiana pursues a goal of net-zero emissions by 2050, projects that feature carbon capture and sequestration allow our state to sustain industry without sacrificing our long-term carbon-reduction goals.”

Venture Global is developing several other facilities in Louisiana, including the Calcasieu Pass facility, also in Cameron, and the Venture Global Plaquemines LNG project in Plaquemines Parish. “CP2 will be located in Cameron Parish, adjacent to our existing Calcasieu Pass terminal,” Sabel said.