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Venture Global announces final investment decision for Phase 2 of CP2 LNG

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Venture Global, Inc. is announcing a final investment decision (FID) and successful closing of an $8.6 billion project financing for the second phase of the company’s third project, Venture Global CP2 LNG (CP2), in Louisiana. 

  • $8.6 billion project financing for CP2 Phase 2 brings project’s total financing to $20.7 billion
  • Project expected to make Venture Global the largest exporter of US LNG
  • Unprecedented milestone of five FIDs in less than 7 years, with over $95 billion in capital markets transactions

When combined with the Phase One financing for CP2 announced July 2025, this milestone represents the largest standalone project financing in the U.S. bank market. The transaction garnered enormous interest from the world’s leading banks, resulting in over $19 billion of commitments for Phase Two in addition to the previous $34 billion of commitments for Phase One, and required no outside equity investment.

“We are extremely proud to have taken FID on the second phase of CP2, our third greenfield project, bringing Venture Global’s executed capital markets transactions to more than $95 billion,” said Venture Global CEO Mike Sabel. “The tireless dedication of our team has enabled us to reach five final investment decisions in less than seven years, positioning us to become the largest U.S. exporter of LNG once CP2 is fully online. With the Phase Two financing secured, we will build on the strong construction progress already underway and deliver reliable American LNG to customers around the world.” 

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As reported to BIC Magazine, CP2 will have a peak production capacity of 29 MTPA and has contracted to sell nearly all of its nameplate capacity on a long-term basis with customers predominantly located in Europe and Asia. Accordingly, CP2 is a strategically important project to global energy supply and security. Venture Global now has a total contracted capacity of over 49 MTPA, or nearly all of its nameplate capacity, across all three of its projects in Louisiana.

U.S. LNG expansion is accelerating as Middle East conflicts drive global demand. However, with Gulf Coast terminals already pushed to their limits, the industry faces a significant bottleneck due to the extensive timelines required for new infrastructure.

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