March 13, Venture Global, Inc. announced a final investment decision (FID) and successful closing of an $8.6 billion project financing for the second phase of the company’s third project, Venture Global CP2 LNG in Cameron Parish, Louisiana, reported the company.
When combined with the Phase One financing for CP2 announced July 2025, the milestone represents the largest standalone project financing in the U.S. bank market.
The transaction reportedly garnered interest from the world’s leading banks, resulting in more than $19 billion of commitments for Phase 2 in addition to the previous $34 billion of commitments for Phase 1, and required no outside equity investment.
“We are extremely proud to have taken FID on the second phase of CP2, our third greenfield project, bringing Venture Global’s executed capital markets transactions to more than $95 billion,” said Venture Global CEO Mike Sabel. “The tireless dedication of our team has enabled us to reach five final investment decisions in less than seven years, positioning us to become the largest U.S. exporter of LNG once CP2 is fully online. With the Phase Two financing secured, we will build on the strong construction progress already underway and deliver reliable American LNG to customers around the world.”
CP2 will have a peak production capacity of 29 million tonnes per annum (MTPA) and has contracted to sell nearly all of its nameplate capacity on a long-term basis with customers predominantly located in Europe and Asia.
Accordingly, CP2 is a strategically important project to global energy supply and security. Venture Global now has a total contracted capacity of over 49 million tonnes per annum (MTPA), or nearly all of its nameplate capacity, across all three of its projects in Louisiana.
The lender group for the construction financing is comprised of the world’s leading banks, signaling significant demand for U.S. LNG investment not only in the United States but also in Europe and Asia.
The company reported the lender group included Banco Santander, Bank of America, Bank of China, Barclays, CaixaBank, Canadian Imperial Bank of Commerce, Deutsche Bank, Goldman Sachs, Industrial and Commercial Bank of China, Intesa Sanpaolo, J.P. Morgan Chase, Landesbank Baden-Wuttemberg, Mizuho, National Bank of Canada, National Westminster Bank, Natixis, PNC Bank, Regions Bank, Royal Bank of Canada, Standard Chartered, Sumitomo Mitsui, The Bank of Nova Scotia, The Huntington National Bank, Truist, U.S. Bank National Association, and Wells Fargo.
Banco Bilbao Vizcaya Argentaria (BBVA) and MUFG Bank, Ltd. (MUFG) served as lead arrangers for CP2 LNG Phase 2’s Construction Term Loan and Working Capital Facility. Latham & Watkins LLP served as counsel to Venture Global and Skadden, Arps, Slate, Meagher & Flom LLP served as counsel to lenders across all facilities.
Venture, Vitol announce new LNG purchase agreement
March 23, Venture Global, Inc. and Vitol announced the execution of a new, binding agreement for the purchase of approximately 1.5 million tonnes per annum (MTPA) of U.S. liquefied natural gas (LNG) from Venture Global for five years commencing in 2026, to be supplied from Venture Global’s portfolio.
“Global demand for flexible, reliable U.S. LNG is rapidly growing, and Venture Global is proud to work with premier LNG trading companies like Vitol to provide this critical supply to the market,” said Venture Global CEO Mike Sabel. “Thanks to our innovative model, we have the ability to provide our customers with short, medium, and long-term LNG supply, and this agreement is another important step in diversifying the tenor of our LNG portfolio.”
“Vitol is delighted to be working with Venture Global, a leading producer and supplier of LNG to world markets,” said Global Head of LNG at Vitol Pablo Galante Escobar. “LNG is important to many economies worldwide. Through this transaction Vitol is expanding its supply base to be able to offer diverse and reliable sources of energy to our customers and partners around the world.”
