Deal details

Venture Global Plaquemines LNG Phase 1 and Gator Express Pipeline - Financing

Description

Venture Global LNG has taken a final investment decision (FID) and closed the $13.2 billion project financing for the initial 13.3 MTPA phase of the Plaquemines LNG facility and associated Gator Express pipeline. Proceeds of the debt and equity financing fully fund the balance of construction and commissioning of the initial phase. This is the first LNG project located in the United States to reach financial close since Venture Global's Calcasieu Pass facility in August 2019, and was the largest project financing in the world in 2022.Venture Global has executed 20-year Sales and Purchase Agreements for 80% of the full 20 MTPA capacity. Phase one customers include PGNiG, Sinopec, CNOOC, Shell and EDF while phase two customers to date include ExxonMobil, PETRONAS and New Fortress Energy.

Assets involved

Companies involved

  • Industrial and Commercial Bank of China (ICBC), JP Morgan, Scotia Bank (The Bank of Nova Scotia), Santander, Bank of China, Landesbank Baden - Wurttemberg (LBBW), Nomura, Truist Bank, MUFG, Bank Of America (BoA), Norddeutsche Landesbank (NORD/LB), Morgan Stanley, Royal Bank of Canada, Goldman Sachs, CaixaBank, Deutsche Bank, Mizuho, ING Bank, Sumitomo Mitsui Banking Corporation (SMBC), Natixis
  • Industrial and Commercial Bank of China (ICBC), MUFG, Deutsche Bank, Santander, Goldman Sachs, Bank Of America (BoA), ING Bank, Natixis, Bank of China, Scotia Bank (The Bank of Nova Scotia), Mizuho, Nomura, Royal Bank of Canada, Landesbank Baden - Wurttemberg (LBBW), CaixaBank, JP Morgan, Sumitomo Mitsui Banking Corporation (SMBC), Morgan Stanley
  • Sumitomo Mitsui Banking Corporation (SMBC)
  • Sumitomo Mitsui Banking Corporation (SMBC)
  • ING Bank, Goldman Sachs, Sumitomo Mitsui Banking Corporation (SMBC), Mizuho, Morgan Stanley, MUFG, Bank Of America (BoA), JP Morgan, Royal Bank of Canada
  • China National Offshore Oil Corporation (CNOOC), Sinopec, PGNiG (Polish Petroleum and Gas Mining), EDF Energy , Petroliam Nasional Berhad (Petronas), Exxon Mobil, Royal Dutch Shell, New Fortress Energy
  • ING Bank, Goldman Sachs, Sumitomo Mitsui Banking Corporation (SMBC), MUFG
  • Mizuho, Santander, JP Morgan
  • Natixis
  • Stone Pigman Walher Wittman, Skadden, Arps, Slate, Meagher & Flom
  • Latham & Watkins
  • ING Bank
  • ING Bank, Scotia Bank (The Bank of Nova Scotia)
  • Royal Bank of Canada
  • Zachry Industrial, KBR Inc
  • Royal Bank of Canada
  • Royal Bank of Canada
  • Venture Global LNG
  • Kean Miller LLP

Key information

Venture Global Plaquemines LNG LLC

13109$m

25-05-2022

Oil & gas / LNG

United States

Project & Infrastructure Finance

Not PPP

Tranche information

Term Loan

8459$m

US Dollar - USD

0

7.0 years

-

-

-

Letter of Credit

2100$m

US Dollar - USD

0

2.0 years

-

-

-

Term Loan

1100$m

US Dollar - USD

0

7.0 years

-

-

-

Term Loan

1450$m

US Dollar - USD

0

2.0 years

-

-

-