Venture Global secures $8.6bn in financing for CP2 LNG phase two

Group 1: Project Financing and Investment Decision - Venture Global has secured a final investment decision (FID) and $8.6 billion in project financing for the second phase of its CP2 LNG project in Louisiana, marking the largest stand-alone project financing in the US bank market [1] - The total commitments for phase two exceed $19 billion, adding to the $34 billion committed for phase one, with no additional equity investment from external sources [1] Group 2: Production Capacity and Contracts - The CP2 project is expected to have a peak production capacity of 29 million tonnes per annum (mtpa) and has secured long-term contracts for nearly all of its output, primarily with clients in Europe and Asia [2] - Across its three projects in Louisiana, Venture Global now has a contracted capacity exceeding 49 mtpa [2] Group 3: Financing and Legal Support - The construction financing lender group includes major global banks such as Banco Santander, Bank of America, Bank of China, Barclays, Deutsche Bank, Goldman Sachs, and JPMorgan Chase, indicating strong interest in US LNG investments [3] - Lead arrangers for the construction term loan and working capital facility were Banco Bilbao Vizcaya Argentaria and MUFG Bank, with legal counsel provided by Latham & Watkins and Skadden, Arps, Slate, Meagher & Flom [5] Group 4: Company Leadership and Future Outlook - Venture Global's CEO stated that the company has executed capital markets transactions exceeding $95 billion and aims to become the largest US exporter of LNG once CP2 is fully operational [4] - With the phase two financing secured, the company plans to build on the strong construction progress already underway to deliver reliable American LNG to global customers [5] Group 5: New Agreements - In November 2025, Venture Global and Tokyo Gas executed a new LNG sales and purchase agreement, under which Tokyo Gas will receive 1 mtpa of LNG for 20 years starting in 2030 [6]