Venture Global LNG closed $7.8 billion in project financing for the second phase of its LNG facility in Plaquemines, LA. Together, phase one and phase two represent approximately $21 billion of investment, which Venture Global said in the press release is the largest project financing ever done.
“Venture Global is proud to announce a positive Final Investment Decision (FID) for phase two of Plaquemines LNG, less than 10 months after sanctioning phase one,” said Mike Sabel, CEO of Venture Global LNG, in the press release. “Our company’s continued ability to commercialize, obtain financing and build our projects in an extremely competitive market is a testament to our team’s proven track record of discipline and execution. I would like to thank our customers, lenders, advisors, construction partners and local partners in Louisiana for their continued support. Our team will continue to deliver on our mission to bring more clean, low-cost US LNG to the global market in the coming years to support the world’s rapidly growing demand for energy.”
Plaquemines LNG has received all necessary permits, including FERC authorization and non-FTA export authorization from the U.S. Department of Energy. Plaquemines LNG phase two customers include ExxonMobil, Chevron, EnBW, New Fortress Energy, China Gas, PETRONAS and Excelerate Energy. Marketing is actively underway for the company’s third facility, CP2 LNG, and SPAs have been signed by CP2 LNG with Exxon Mobil, Chevron, EnBW, INPEX, China Gas and New Fortress Energy.
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