Venture Global Secures $8.6bn for 29mtpa CP2 LNG Phase Two
Venture Global has secured a final investment decision and $8.6bn in project financing for CP2’s second phase, bringing commitments to over $19bn without additional equity. The 29mtpa CP2 project now has long-term contracts for nearly all output and boosts Venture Global’s total contracted capacity above 49mtpa.
1. Financing Details
Venture Global reached a final investment decision and secured $8.6bn in project financing for CP2’s second phase in Louisiana. This deal, the largest standalone US bank market LNG financing, attracted over $19bn in commitments without requiring additional external equity.
2. Capacity and Contracts
Phase two of CP2 is designed for a peak output of 29 million tonnes per annum and has nearly all of its cargoes locked up under long-term sales agreements. Combined with phase one, Venture Global’s three Louisiana projects now have over 49mtpa of contracted capacity.
3. Lender Participation and Strategy
A consortium of major global banks including Banco Santander, Bank of America, Goldman Sachs and JPMorgan Chase led the construction term loan and working capital facility. This financing milestone marks Venture Global’s fifth FID in under seven years, positioning it to become the top US exporter of LNG.
4. Offtake Agreements
In November 2025, Venture Global signed a 20-year sales pact with Tokyo Gas for 1mtpa of LNG starting in 2030, enhancing the project’s revenue visibility. Additional long-term contracts with European and Asian buyers further secure cashflows for CP2 upon start-up.