Venture Global shares rise after it announces site work at CP2

June 3 (Reuters) - Venture Global Inc's VG.N shares rose almost 20% on Tuesday after the Louisiana-based LNG producer said it had begun construction on its proposed CP2 plant in the state after getting federal approval to proceed.

At 20 million metric tonnes per annum, CP2 will be the single largest LNG export facility in the United States and help the country remain the world's largest exporter of the superchilled gas .

CP2 is expected to deliver its first LNG in 2027 and is already well advanced in engineering, procurement and contracting, the company said.

Construction speed will also benefit from off-site work that has taken place on the plant's modules and equipment, Venture Global said.

Venture Global has yet to give the official final financial greenlight to the project.

If it gets built, it will make Venture Global the largest LNG exporter in the U.S., ahead of Cheniere Energy LNG.N.