Worley Limited (ASX:WOR) (Worley) provides a progress update on its reimbursable EPC contract with Venture GlobalVenture Global for its CP2 project – a major LNG export facility in Louisiana, United States. Under a Limited Notice to Proceed Worley has been providing engineering, procurement and construction planning services.

Venture Global has initiated full mobilization and started site work for Phase 1 of CP2 earlier this month with contractors and Worley personnel now mobilised to site.

Progress on CP2 had been delayed pending approval from the Federal Energy Regulatory Commission (FERC). This approval, originally provided in June 2024, was reinstated in May 2025.

Worley has now largely completed engineering for Phase 1 and has commenced providing engineering services for Phase 2. Venture Global has separately announced that full mobilisation to site is now underway. Upon reaching Final Investment Decision (FID), Worley will then continue to complete the project under a Full Notice to Proceed.

Worley expects to commence the major part of its in-scope construction activities subject to completion of initial on-site civil works, planned for the end of FY26. Venture Global is targeting first LNG exports in Q3 of calendar year 2027.

“We value our partnership with Venture Global on the CP2 LNG project. The project underscores Worley’s commitment to delivering complex energy infrastructure projects that support global energy security. This is one of the most significant LNG projects underway globally and we’re proud to contribute our extensive experience in LNG and our global integrated delivery capabilities.” said Chris Ashton, Chief Executive Officer at Worley.

The work is being led by Worley’s Houston and Reading offices and supported by Worley’s GID team. Worley categorises this work as transitional work.

About Worley

About Worley: Worley is a leading global professional services company of energy, chemicals and resources experts. We partner with customers to deliver projects and create value over the life of their assets. We’re bridging two worlds, moving towards more sustainable energy sources, while helping to provide the energy, chemicals and resources needed now.

Worley Limited is headquartered in Australia and listed on the Australian Securities Exchange (ASX:WOR).

About Venture Global

Venture Global is a long-term, low-cost provider of U.S. LNG sourced from resource rich North American natural gas basins. Venture Global’s business includes assets across the LNG supply chain including LNG production, natural gas transport, shipping and regasification. Venture Global’s first facility, Calcasieu Pass, commenced producing LNG in January 2022 and achieved commercial operations in April 2025. The company’s second facility, Plaquemines LNG, achieved first production of LNG in December 2024. The company is currently constructing and developing over 100 MTPA of nameplate production capacity to provide clean, affordable energy to the world. Venture Global is developing Carbon Capture and Sequestration projects at each of its LNG facilities.