** Shares of LNG producer Venture Global VG.N up ~20% at $14.15

** Company says it has started site work at its third LNG export facility, CP2 LNG

** The launch comes after CP2 received final approval and notices to proceed from the Federal Energy Regulatory Commission, and weeks after receiving its non-FTA export authorization from the U.S. Department of Energy

** VG says it is expected to become the largest LNG exporter in the United States and second largest in the world after completion

** "The project is expected to deliver low-cost LNG to the world starting in 2027" - CEO Mike Sabel

** Including session's moves, VG up 62.6% YTD

(Reporting by Sumit Saha in Bengaluru)

((Sumit.Saha@thomsonreuters.com;))