Venture Global, Inc. has reached a final investment decision (FID) and closed $15.1 billion in project financing for phase 1 of its CP2 LNG project, along with the CP Express Pipeline, according to the company's release.
The financing represents the largest standalone project financing ever and the second largest in Venture Global’s history, following the combined financings of its Plaquemines LNG project.
The transaction attracted over $34 billion in commitments from global banks and did not require any outside equity investment.
“We are extremely proud to have taken FID on our third greenfield project in under 6 years with over $80 billion in capital markets transactions executed to date,” said Venture Global CEO Mike Sabel. “This success would not be possible without the dedication and relentless execution of the entire Venture Global team. Our significant early investments and work on the project make CP2 the most advanced project at FID to date. This project, fully owned by Venture Global and our shareholders, is expected to deliver reliable American LNG to the world beginning in 2027.”
CP2 will have a peak production capacity of 28 MTPA. Phase 1 has long‑term SPAs in place with customers in Europe, Asia and other markets. Venture Global now holds total contracted capacity of 43.5 MTPA across its three Louisiana‑based projects.
The lender group includes Bank of America, Barclays, Bayern LB, BBVA, CIBC, Deutsche Bank, FirstBank, Flagstar, Goldman Sachs, Helaba, ICBC, ING, Intesa, J.P. Morgan, LBBW, Mizuho, MUFG, Natixis, NBC, Nord LB, Raymond James, RBC, Regions, Santander, Scotiabank, SMBC, Standard Chartered, Truist and Wells Fargo. ING and Santander served as lead arrangers for the construction term loan and working capital facility, while Bank of America and Scotiabank were lead arrangers for the equity bridge loan. Latham & Watkins LLP acted as counsel to Venture Global and Skadden, Arps, Slate, Meagher & Flom LLP represented the lenders.
Venture Global, Inc. is an American corporation registered and headquartered in Arlington, Virginia, engaged in the production and export of liquefied natural gas (LNG). The company operates and develops a vertically integrated LNG business including production facilities, pipeline infrastructure, LNG shipping, and regasification. Its primary facilities—Calcasieu Pass, Plaquemines LNG and CP2 LNG—are located in Louisiana on the U.S. Gulf Coast. The company is publicly traded on the NYSE under the ticker VG. Venture Global pursues rapid modular construction and capital‑markets‑based financing to scale LNG exports and has announced plans to integrate carbon capture and sequestration at its facilities.