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

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

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

-

-

-