Venture Global Secures $15.1 Billion Financing for CP2 LNG Phase 1

Venture Global has closed $15.1 billion in financing for Phase 1 of its CP2 LNG export project in Louisiana, the largest standalone project financing to date, with Standard Chartered leading the deal.

(P&GJ) — Standard Chartered said it played a leading role in closing a $15.1 billion financing package for Venture Global’s CP2 LNG project, marking the largest standalone project financing completed to date.

The financing attracted more than $34 billion in commitments from global financial institutions. It included a $12.1 billion project financing package and a $3.0 billion equity bridge loan. Standard Chartered acted as Initial Coordinating Lead Arranger and Hedging Bank for the term loan and working capital facility, and as Coordinating Lead Arranger for the equity bridge loan.

“This transaction exemplifies Standard Chartered's ability to lead from the front on complex financings, bringing together capital, risk solutions, and deep sector expertise,” said Sridhar Nagarajan, Head of Infrastructure and Development Finance Group for the Americas. “As an Initial Coordinating Lead Arranger and Hedging Bank, we are pleased to support Venture Global in this marquee project and in their mission to provide low-cost LNG to the world.”

The CP2 LNG project, located in Louisiana, is designed for peak production of 28 million tonnes per annum (MTPA). Phase 1 has already secured long-term sales and purchase agreements with customers in Europe, Asia, and other regions. The project is expected to strengthen Venture Global’s position as it moves toward becoming the largest LNG exporter in the United States.