Venture Global secures $15.1B for CP2 LNG Phase 1, the largest standalone LNG financing, aiming for 2027 global deliveries.
On July 28, 2025, Venture Global, Inc. officially announced its Final Investment Decision (FID) and the successful financial close for Phase 1 of its third liquefied natural gas (LNG) project, CP2 LNG, along with the associated CP Express Pipeline. The financing package totals $15.1 billion, marking it as the largest standalone project financing in history and second only to the cumulative financings of the company’s Plaquemines LNG project.
This milestone not only represents a major advancement in Venture Global's portfolio but also underscores significant global investor confidence in U.S. LNG infrastructure. Remarkably, the financing round attracted over $34 billion in commitments from leading international banks and was achieved without the need for any outside equity investment.
Mike Sabel, CEO of Venture Global, expressed his pride and satisfaction with the achievement, stating, “We are extremely proud to have reached FID on our third greenfield LNG project in less than six years. With over $80 billion in capital markets transactions already completed, this success is a reflection of our team’s relentless focus and execution. Our early investments and groundwork have positioned CP2 as the most advanced project at the FID stage to date.”
The CP2 LNG project, fully owned by Venture Global and its shareholders, is scheduled to begin delivering reliable American LNG to global markets by 2027. Phase 1 alone will feature a peak production capacity of 28 million tonnes per annum (MTPA). The project has already secured long-term Sales and Purchase Agreements (SPAs) with customers across Europe, Asia, and other regions, reinforcing its strategic importance for global energy security and supply diversification.
Collectively, Venture Global’s three Louisiana-based projects now boast a total contracted LNG export capacity of 43.5 MTPA. This highlights the company's growing footprint and influential role in the global LNG landscape.
The construction financing lender group for CP2 Phase 1 comprises a consortium of world-renowned financial institutions, demonstrating robust international confidence in U.S. LNG ventures. The 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.
Key roles were played by ING and Santander as Lead Arrangers for the Construction Term Loan and Working Capital Facility, while Bank of America and Scotiabank led the Equity Bridge Loan arrangement. Legal counsel was provided by Latham & Watkins LLP for Venture Global, and Skadden, Arps, Slate, Meagher & Flom LLP for the lending group across all financing facilities.
