News Details
Venture Global announces FID for the second phase of Plaquemines LNG
Venture Global LNG has announced a final investment decision (FID) 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 20MTPA nameplate capacity project.
Company said on Monday it has 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.
Plaquemines LNG has received all necessary permits, including FERC authorization and non-FTA export authorization from the U.S. Department of Energy.
Plaquemines LNG phase two customers include ExxonMobil, Chevron, EnBW, New Fortress Energy, China Gas, PETRONAS and Excelerate Energy.
Marketing is actively underway for the company’s third facility, CP2 LNG, and SPAs have been signed by CP2 LNG with Exxon Mobil, Chevron, EnBW, INPEX, China Gas and New Fortress Energy.