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

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

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

1450$m

US Dollar - USD

0

2.0 years

-

-

-

Term Loan

8459$m

US Dollar - USD

0

7.0 years

-

-

-

Term Loan

1100$m

US Dollar - USD

0

7.0 years

-

-

-

Letter of Credit

2100$m

US Dollar - USD

0

2.0 years

-

-

-