Venture Global, Inc. has announced a final investment decision on July 28, 2025, and also a successful closing of the $15.1 billion project financing when it comes to the first phase of the third project of the company – Venture Global CP2 LNG (CP2), along with the associated CP Express pipeline.
Apparently, this milestone has represented the largest standalone project financing in history and the second largest project financing post the combined financings coming from Plaquemines LNG of Venture Global.
Interestingly, this transaction has already garnered massive interest from the leading banks of the world, thereby resulting in more than $34 billion of commitments, and as a matter of fact does not require any outside equity funding marking massive US LNG investment.
According to Mike Sabel, Venture Global CEO, they are extremely proud to have taken FID on their third Greenfield project, and that too under six years with more than $80 billion in capital market transactions, which have been implemented to date. This success, according to him, would not have been possible without the relentless pursuit of the entire venture global team. Their significant early investments, along with work on the project, have made CP2 the most advanced project at FID to date. He added that this project, which happens to be completely owned by Venture Global and its shareholders, is anticipated to deliver dependable American LNG across the world starting in 2027.
It is well to be noted that CP2 will have a peak production capacity of almost 28 MTPA. Phase 1 has contracted long-term SPAs with customers coming from Asia, Europe, and the rest of the world. Likewise, CP2 happens to be a strategically significant project when it comes to global energy supply as well as security. Venture Global now has an overall contracted capacity of 43.5 MTPA throughout all three projects that are based in Louisiana.
Notably, the lender group for the construction financing comprises the leading banks of the world, signaling prominent demand when it comes to the US LNG investment not only in the US but also across Europe as well as Asia. The lender group happens to include the likes of Barclays, Bayern LB, Bank of America, CIBC, BBVA, Deutsche Bank, Flagstar, Helaba, Goldman Sachs, FirstBank, ING, ICBC, LBBW, JP Morgan, Natixis, Mizuho, MUFG, Nord LB, NBC, Raymond James, Santander, Scotia Bank, Standard Chartered, Wells Fargo, and more.
It is worth noting that ING as well as Santander went on to serve as lead arrangers for the first phase of the construction term loan of CP2 LNG as well as the working capital facility. Bank of America, along with Scotia Bank, went to serve as lead and arrange for the phase 1 Equity Bridge loan for CP2 LNG.
Latham and Watkins LLP served as counsel when it comes to Venture Global, and Arps, Skadden, Slate, Meagher & Flom LLP went on to serve as counsel to the lenders throughout all the facilities.
