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
8,459$
Term Loan
8459$m
US Dollar - USD
0
7.0 years
-
-
-
Participant | role | ticket size |
---|---|---|
Bank Of America (BoA) | Lender | 433$m |
Truist Bank | Lender | 433$m |
JP Morgan | Lender | 433$m |
Santander | Lender | 433$m |
Bank of China | Lender | 433$m |
CaixaBank | Lender | 433$m |
Deutsche Bank | Lender | 433$m |
Goldman Sachs | Lender | 433$m |
Industrial and Commercial Bank of China (ICBC) | Lender | 433$m |
ING Bank | Lender | 597$m |
Scotia Bank (The Bank of Nova Scotia) | Lender | 433$m |
Mizuho | Lender | 433$m |
Morgan Stanley | Lender | 433$m |
MUFG | Lender | 433$m |
Natixis | Lender | 433$m |
Nomura | Lender | 433$m |
Royal Bank of Canada | Lender | 433$m |
Sumitomo Mitsui Banking Corporation (SMBC) | Lender | 449$m |
Landesbank Baden - Wurttemberg (LBBW) | Lender | 433$m |
Norddeutsche Landesbank (NORD/LB) | Lender | 50$m |
LC
2,100$
Letter of Credit
2100$m
US Dollar - USD
0
2.0 years
-
-
-
Participant | role | ticket size |
---|---|---|
Truist Bank | Lender | 111$m |
JP Morgan | Lender | 111$m |
Royal Bank of Canada | Lender | 111$m |
Nomura | Lender | 111$m |
Natixis | Lender | 111$m |
MUFG | Lender | 111$m |
Morgan Stanley | Lender | 111$m |
Mizuho | Lender | 111$m |
Scotia Bank (The Bank of Nova Scotia) | Lender | 111$m |
Landesbank Baden - Wurttemberg (LBBW) | Lender | 111$m |
ING Bank | Lender | 148$m |
Industrial and Commercial Bank of China (ICBC) | Lender | 111$m |
Goldman Sachs | Lender | 111$m |
Deutsche Bank | Lender | 111$m |
CaixaBank | Lender | 111$m |
Bank of China | Lender | 111$m |
Santander | Lender | 111$m |
Sumitomo Mitsui Banking Corporation (SMBC) | Lender | 58$m |
Bank Of America (BoA) | Lender | 111$m |
WCF
1,100$
Term Loan
1100$m
US Dollar - USD
0
7.0 years
-
-
-
Participant | role | ticket size |
---|---|---|
Truist Bank | Lender | 54$m |
JP Morgan | Lender | 54$m |
Sumitomo Mitsui Banking Corporation (SMBC) | Lender | 54$m |
Royal Bank of Canada | Lender | 54$m |
Nomura | Lender | 54$m |
Natixis | Lender | 54$m |
MUFG | Lender | 54$m |
Morgan Stanley | Lender | 54$m |
Mizuho | Lender | 54$m |
Scotia Bank (The Bank of Nova Scotia) | Lender | 54$m |
ING Bank | Lender | 77$m |
Industrial and Commercial Bank of China (ICBC) | Lender | 54$m |
Goldman Sachs | Lender | 54$m |
Deutsche Bank | Lender | 54$m |
CaixaBank | Lender | 54$m |
Bank of China | Lender | 54$m |
Santander | Lender | 54$m |
Landesbank Baden - Wurttemberg (LBBW) | Lender | 54$m |
Bank Of America (BoA) | Lender | 54$m |
Norddeutsche Landesbank (NORD/LB) | Lender | 50$m |
Term Loan
1,450$
Term Loan
1450$m
US Dollar - USD
0
2.0 years
-
-
-
Participant | role | ticket size |
---|---|---|
Santander | Lender | 100$m |
Bank Of America (BoA) | Lender | 175$m |
Goldman Sachs | Lender | 175$m |
Mizuho | Lender | 175$m |
Deutsche Bank | Lender | 74$m |
ING Bank | Lender | 175$m |
JP Morgan | Lender | 100$m |
Nomura | Lender | 175$m |
Royal Bank of Canada | Lender | 175$m |
Sumitomo Mitsui Banking Corporation (SMBC) | Lender | 125$m |