Bloomberg News reports that Trump will approve Venture Global LNG exports to Louisiana from the project.

Bloomberg News reported that the U.S. administration of President Donald Trump is expected to grant Venture Global LNG conditional permission to export natural gases from a proposed Louisiana plant, which was delayed under former president Joe Biden.

A person with knowledge of the situation said that the Energy Department will authorize large-scale exports from CP2's project by the company as early as Wednesday.

CP2 is still subject to the final approval of federal regulators.

Venture Global, the White House and the U.S. Energy Department did not respond immediately to our request for comment.

In December, the Federal Regulatory Energy Commission revoked Venture Global LNG’s permission to build its CP2 LNG export facility. The FERC required an additional air quality review.

CP2 is at the heart of a battle with environmentalists who want to limit future LNG project on the U.S. Gulf Coast. The 20 million metric ton per year facility was approved by FERC for construction in June.

Venture Global's share price is down 33% since last month. (Reporting and editing by Kim Coghill, Rashmi aich and Surbhi Misra from Bengaluru)

(source: Reuters)