Venture Global LNG is announcing a final investment decision and successful closing of the $7.8 billion project financing for the second phase of the Plaquemines LNG facility.
Together, phase one and phase two represent approximately $21 billion of investment, the largest project financing ever done. The proceeds of the debt and equity financing fully fund the balance of construction and commissioning of the second phase of the 20 MTPA nameplate capacity project. The company also issued a full notice to proceed to KZJV to continue construction on phase two of Plaquemines LNG.
“Venture Global is proud to announce a positive Final Investment Decision (FID) for phase two of Plaquemines LNG, less than 10 months after sanctioning phase one,” said Mike Sabel, CEO of Venture Global LNG. “Our company’s continued ability to commercialize, obtain financing and build our projects in an extremely competitive market is a testament to our team’s proven track record of discipline and execution. I would like to thank our customers, lenders, advisors, construction partners and local partners in Louisiana for their continued support. Our team will continue to deliver on our mission to bring more clean, low-cost US LNG to the global market in the coming years to support the world’s rapidly growing demand for energy.”
