diff --git a/WHATS_NEW b/WHATS_NEW
index 9e8bfbea1..ff0874541 100644
--- a/WHATS_NEW
+++ b/WHATS_NEW
@@ -1,5 +1,6 @@
 Version 2.02.54 -
 =====================================
+  Consolidate LV allocation into alloc_lv().
   Treat input units of both 's' and 'S' as 512-byte sectors.  (2.02.49)
   Use standard output units for 'PE Size' and 'Stripe size' in pv/lvdisplay.
   Add configure --enable-units-compat to set si_unit_consistency off by default.
diff --git a/lib/format1/import-export.c b/lib/format1/import-export.c
index 1160d09ba..b0c0cd47f 100644
--- a/lib/format1/import-export.c
+++ b/lib/format1/import-export.c
@@ -337,12 +337,6 @@ int import_lv(struct cmd_context *cmd, struct dm_pool *mem,
 	lv->size = lvd->lv_size;
 	lv->le_count = lvd->lv_allocated_le;
 
-	lv->snapshot = NULL;
-	dm_list_init(&lv->snapshot_segs);
-	dm_list_init(&lv->segments);
-	dm_list_init(&lv->tags);
-	dm_list_init(&lv->segs_using_this_lv);
-
 	return 1;
 }
 
@@ -457,7 +451,7 @@ static struct logical_volume *_add_lv(struct dm_pool *mem,
 {
 	struct logical_volume *lv;
 
-	if (!(lv = dm_pool_zalloc(mem, sizeof(*lv))))
+	if (!(lv = alloc_lv(mem)))
 		return_NULL;
 
 	lvid_from_lvnum(&lv->lvid, &vg->id, lvd->lv_number);
diff --git a/lib/format_pool/import_export.c b/lib/format_pool/import_export.c
index 0ddf8812d..b38355747 100644
--- a/lib/format_pool/import_export.c
+++ b/lib/format_pool/import_export.c
@@ -59,10 +59,8 @@ int import_pool_lvs(struct volume_group *vg, struct dm_pool *mem, struct dm_list
 	struct pool_list *pl;
 	struct logical_volume *lv;
 
-	if (!(lv = dm_pool_zalloc(mem, sizeof(*lv)))) {
-		log_error("Unable to allocate logical volume structure");
-		return 0;
-	}
+	if (!(lv = alloc_lv(mem)))
+		return_0;
 
 	lv->status = 0;
 	lv->alloc = ALLOC_NORMAL;
@@ -70,11 +68,6 @@ int import_pool_lvs(struct volume_group *vg, struct dm_pool *mem, struct dm_list
 	lv->name = NULL;
 	lv->le_count = 0;
 	lv->read_ahead = vg->cmd->default_settings.read_ahead;
-	lv->snapshot = NULL;
-	dm_list_init(&lv->snapshot_segs);
-	dm_list_init(&lv->segments);
-	dm_list_init(&lv->tags);
-	dm_list_init(&lv->segs_using_this_lv);
 
 	dm_list_iterate_items(pl, pls) {
 		lv->size += pl->pd.pl_blocks;
@@ -99,10 +92,6 @@ int import_pool_lvs(struct volume_group *vg, struct dm_pool *mem, struct dm_list
 		} else {
 			lv->minor = -1;
 		}
-		lv->snapshot = NULL;
-		dm_list_init(&lv->snapshot_segs);
-		dm_list_init(&lv->segments);
-		dm_list_init(&lv->tags);
 	}
 
 	lv->le_count = lv->size / POOL_PE_SIZE;
diff --git a/lib/format_text/import_vsn1.c b/lib/format_text/import_vsn1.c
index 3c416757b..3c9a98e99 100644
--- a/lib/format_text/import_vsn1.c
+++ b/lib/format_text/import_vsn1.c
@@ -495,7 +495,7 @@ static int _read_lvnames(struct format_instance *fid __attribute((unused)),
 	struct logical_volume *lv;
 	struct config_node *cn;
 
-	if (!(lv = dm_pool_zalloc(mem, sizeof(*lv))))
+	if (!(lv = alloc_lv(mem)))
 		return_0;
 
 	if (!(lv->name = dm_pool_strdup(mem, lvn->key)))
@@ -541,12 +541,6 @@ static int _read_lvnames(struct format_instance *fid __attribute((unused)),
 		}
 	}
 
-	lv->snapshot = NULL;
-	dm_list_init(&lv->snapshot_segs);
-	dm_list_init(&lv->segments);
-	dm_list_init(&lv->tags);
-	dm_list_init(&lv->segs_using_this_lv);
-
 	/* Optional tags */
 	if ((cn = find_config_node(lvn, "tags")) &&
 	    !(read_tags(mem, &lv->tags, cn->v))) {
diff --git a/lib/metadata/lv_manip.c b/lib/metadata/lv_manip.c
index 70d9da2db..7bcd64fed 100644
--- a/lib/metadata/lv_manip.c
+++ b/lib/metadata/lv_manip.c
@@ -1862,6 +1862,24 @@ int vg_max_lv_reached(struct volume_group *vg)
 	return 1;
 }
 
+struct logical_volume *alloc_lv(struct dm_pool *mem)
+{
+	struct logical_volume *lv;
+
+	if (!(lv = dm_pool_zalloc(mem, sizeof(*lv)))) {
+		log_error("Unable to allocate logical volume structure");
+		return NULL;
+	}
+
+	lv->snapshot = NULL;
+	dm_list_init(&lv->snapshot_segs);
+	dm_list_init(&lv->segments);
+	dm_list_init(&lv->tags);
+	dm_list_init(&lv->segs_using_this_lv);
+
+	return lv;
+}
+
 /*
  * Create a new empty LV.
  */
@@ -1891,7 +1909,7 @@ struct logical_volume *lv_create_empty(const char *name,
 
 	log_verbose("Creating logical volume %s", name);
 
-	if (!(lv = dm_pool_zalloc(vg->vgmem, sizeof(*lv))))
+	if (!(lv = alloc_lv(vg->vgmem)))
 		return_NULL;
 
 	if (!(lv->name = dm_pool_strdup(vg->vgmem, name)))
@@ -1904,11 +1922,6 @@ struct logical_volume *lv_create_empty(const char *name,
 	lv->minor = -1;
 	lv->size = UINT64_C(0);
 	lv->le_count = 0;
-	lv->snapshot = NULL;
-	dm_list_init(&lv->snapshot_segs);
-	dm_list_init(&lv->segments);
-	dm_list_init(&lv->tags);
-	dm_list_init(&lv->segs_using_this_lv);
 
 	if (lvid)
 		lv->lvid = *lvid;
diff --git a/lib/metadata/metadata.h b/lib/metadata/metadata.h
index b04e7e21e..391734bd2 100644
--- a/lib/metadata/metadata.h
+++ b/lib/metadata/metadata.h
@@ -316,6 +316,8 @@ struct pv_segment *find_peg_by_pe(const struct physical_volume *pv, uint32_t pe)
  */
 const char *strip_dir(const char *vg_name, const char *dir);
 
+struct logical_volume *alloc_lv(struct dm_pool *mem);
+
 /*
  * Checks that an lv has no gaps or overlapping segments.
  * Set complete_vg to perform additional VG level checks.