Venture Global, Inc has confirmed the final investment decision (FID) and financial close for Phase 1 of its latest liquefied natural gas (LNG) project, CP2 LNG, along with the associated CP Express Pipeline. The company has successfully secured $15.1 billion in project financing, making it the largest standalone project financing in history and second only to the combined funding of its Plaquemines LNG project.
The financing round attracted strong support from leading global financial institutions, generating over $34 billion in lender commitments. The transaction was completed without the need for external equity funding, underlining the strength of the project’s fundamentals and market confidence.
“This marks our third major greenfield LNG development in less than six years,” said Mike Sabel, CEO of Venture Global. “With over $80 billion in capital raised across our portfolio, CP2 stands out as our most advanced project at the FID stage. This milestone is a direct result of our early strategic investments and the exceptional work of our team. CP2 will deliver dependable American LNG to global markets starting in 2027.”
CP2 LNG Phase 1 will have a peak production capacity of 28 million tonnes per annum (MTPA) and has already secured long-term supply agreements with buyers across Europe, Asia, and other key markets. The project is positioned to play a critical role in enhancing global energy security and diversifying LNG supply sources. Across its three Louisiana-based projects—Calcasieu Pass, Plaquemines LNG, and CP2 LNG—Venture Global has a total of 43.5 MTPA of contracted capacity.
The financing was led by a group of top-tier international banks, reflecting strong interest in U.S.-based LNG investments. Participating banks include: Bank of America, Barclays, Deutsche Bank, Goldman Sachs, J.P. Morgan, RBC, Scotiabank, SMBC, Wells Fargo, among others. In total, over 30 major institutions were involved.
ING and Santander acted 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 advisory was provided by Latham & Watkins LLP on behalf of Venture Global and Skadden, Arps, Slate, Meagher & Flom LLP for the lender group.
Venture Global is a U.S.-based producer and exporter of liquefied natural gas, with over 100 MTPA of capacity in various stages of production, construction, and development. The company commenced LNG production in 2022 and has quickly become one of the nation’s leading exporters. Its vertically integrated model includes operations across the full LNG value chain, from natural gas supply and transport to shipping and regasification.
The company’s three primary facilities—Calcasieu Pass, Plaquemines LNG, and CP2 LNG—are all located along the Gulf Coast of Louisiana. Venture Global is also actively advancing carbon capture and sequestration initiatives at each of its LNG sites to enhance environmental sustainability.
