Top 10 LNG Export Projects: $72 B in US FIDs and a $17.5 B Woodside Deal (2024-2025)

The global liquefied natural gas (LNG) market saw an unprecedented surge in Final Investment Decisions (FIDs) during 2025, driven almost entirely by a wave of large-scale projects on the U.S. Gulf Coast. This investment frenzy, totaling over $72 billion across six major U.S. projects alone, has cemented North America’s future as the world’s preeminent LNG supplier. This record-breaking activity, which saw over 80 billion cubic meters per year (bcm/y) of liquefaction capacity sanctioned in the U.S., stands in stark contrast to a much quieter 2024, where only 14.8 MTPA of new capacity reached FID globally. The dominant theme for 2025 was a compressed rush to sanction projects, spurred by favorable U.S. policy and intense demand from Europe and Asia, setting the stage for a massive supply wave expected to hit the market between 2027 and 2030.

1. Woodside Louisiana LNG

Company: Woodside Energy
Capacity: 16.5 Million Tonnes Per Annum (MTPA)
Application: LNG Export Terminal
Source: Historic Investment: Woodside Energy Announces $17.5 Billion …

2. CP 2 LNG (Phase 1)

Company: Venture Global LNG
Capacity: 20 MTPA (Full Project)
Application: LNG Export Terminal
Source: Venture Global Announces Final Investment Decision and Financial …

3. Port Arthur LNG (Phase 2)

Company: Sempra Infrastructure
Capacity: Builds upon Phase 1’s 13.5 MTPA
Application: LNG Export Terminal
Source: Port Arthur LNG

4. Rio Grande LNG (Train 4)

Company: Next Decade
Capacity: 1.5 MTPA offtake by Total Energies
Application: LNG Export Terminal
Source: United States: Total Energies reaches Final Investment Decisi

5. Rio Grande LNG (Train 5)

Company: Next Decade
Capacity: Similar scale to other trains
Application: LNG Export Terminal
Source: Next Decade Provides First Quarter 2025 Business Update

6. Cheniere Corpus Christi LNG Expansion

Company: Cheniere Energy
Capacity: Not Specified
Application: LNG Export Terminal
Source: New Analysis of Five Major U.S. LNG Export Projects Finds Every …

7. Cedar LNG

Company: Haisla Nation / Pembina Pipeline
Capacity: 3.3 MTPA
Application: Floating LNG (FLNG)
Source: CER – Market Snapshot: Exploring Canada’s Future in LNG Exports

8. Lake Charles LNG

Company: Energy Transfer LP
Capacity: 16.45 MTPA
Application: LNG Export Terminal (FID Delayed)
Source: Energy Transfer Delays Lake Charles LNG Project Decision to 2026

9. Texas LNG

Company: Glenfarne Energy Transition
Capacity: 4 MTPA
Application: LNG Export Terminal (FID Delayed)
Source: Texas LNG to Announce Final Investment Decision by December 2025

10. Delfin LNG (Phase 1)

Company: Delfin Midstream
Capacity: 3.5 MTPA
Application: Floating LNG (FLNG) (FID Delayed)
Source: Projects & Operations – Pipeline and Gas Journal

Table: Top LNG Export Project FID Status (2024-2025)

LNG Export Diversity, US Land-Based Terminals vs Canadian FLNG

The approved projects showcase two distinct models for LNG exportation, indicating a strategic segmentation of the market. The dominant model is the massive, land-based liquefaction terminal, exemplified by the cluster of projects on the U.S. Gulf Coast like Woodside Louisiana LNG and CP 2 LNG. These facilities are designed for massive scale and long-term production, leveraging existing pipeline infrastructure to process enormous volumes of natural gas. In contrast, a second model, Floating LNG (FLNG), is represented by Canada’s Cedar LNG and the delayed U.S. project Delfin LNG. These smaller-capacity floating facilities offer greater flexibility and can be deployed in new locations more rapidly. The overwhelming financial commitment to large, onshore terminals signifies that the industry’s primary bet is on stable, high-volume supply chains to serve foundational demand from Asia and Europe for decades to come.

US Gulf Coast Dominance, $72 B in LNG Investment in Texas and Louisiana

The geographic story of the 2024-2025 LNG FIDs is one of overwhelming concentration in the U.S. Gulf Coast, specifically across Texas and Louisiana. Projects like Port Arthur LNG, Rio Grande LNG in Texas, and CP 2 LNG in Louisiana highlight a strategic clustering in a region with unique advantages. This area offers unparalleled access to prolific shale gas basins like the Haynesville and Permian, a mature network of gas pipelines, and a highly skilled workforce with deep experience in constructing and operating large energy infrastructure. The lone North American outlier, Cedar LNG in British Columbia, represents Canada’s effort to create a direct export route to Asian markets from its western coast. However, its 3.3 MTPA capacity is a fraction of the scale being developed in the U.S. Gulf, cementing the latter’s position as the undisputed global hub for the next wave of LNG supply.

16.5 MTPA Sanctioned, Woodside Louisiana LNG Highlights Project Maturity

The projects reaching FID are not experimental; they represent the pinnacle of mature, bankable liquefaction technology. The scale of these commitments, such as the $17.5 billion investment in Woodside’s 16.5 MTPA Louisiana facility, demonstrates profound confidence in the underlying engineering and financial models. Both traditional large-scale liquefaction trains and the modular approach favored by developers like Venture Global LNG are proven and ready for mass duplication. Furthermore, the sanctioning of the Cedar LNG project in Canada confirms that FLNG technology has also reached a state of commercial maturity, offering a standardized and repeatable alternative to onshore construction. The delays faced by projects like Lake Charles LNG are not a reflection of technological shortcomings but rather the intense commercial pressure and competition for financing in a market that saw a rush of FIDs in 2025.

Venture Global LNG’s Post-2025 Market, Navigating a Potential Supply Glut

The most critical strategic question for the LNG industry following the 2025 investment surge is how the market will absorb the coming supply wave. With new capacity set to come online between 2027 and 2030, the risk of a global oversupply that could depress prices and challenge project economics is significant. Developers and offtakers must now navigate a more complex landscape where timing and market positioning are paramount.

For the year ahead, stakeholders should closely watch the commercial progress of second-tier projects for signals of market saturation. The ability of these projects to secure long-term contracts and financing will be the leading indicator of whether buyer appetite has been fully met or if room for further expansion remains.

• Monitor the progress of Energy Transfer’s Lake Charles LNG, which delayed its FID into 2026. Its success or failure in securing final commitments will serve as a crucial barometer for the post-2025 investment climate.
• Observe the commercialization strategy of Next Decade for additional trains at its Rio Grande LNG facility beyond Train 5. Strong interest would signal continued long-term demand confidence from buyers.
• Track the construction pace and operational ramp-up of Venture Global LNG’s projects. Their ability to deliver supply ahead of schedule could either capture market share or intensify the impending supply glut.
• Watch for any shifts in U.S. regulatory policy. The permit fast-tracking in early 2025 was a key catalyst, and any change in administration or policy direction could impact the viability of projects targeting FID in 2026 and beyond.

The questions your competitors are already asking

This report covers one angle of the final investment decisions for the next wave of LNG export capacity. The questions that matter most depend on your work.

• Which companies are gaining or losing ground in the race to build the next wave of US LNG export capacity?
• What is the outlook for the massive LNG supply wave hitting the market between 2027 and 2030, and will it create a global glut?
• Woodside Energy investments and funding. Is the $17.5 billion Louisiana LNG project on track for its target startup?
• Who are the key EPC contractors for the US Gulf Coast LNG projects that reached FID in 2025?

This report does not answer these. Enki Brief Pro does.

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