Venture Global Reaches FID on CP2 LNG Phase 2 with $9 Billion Financing

Venture Global has reached a final investment decision and secured $8.6 billion in financing for Phase 2 of its CP2 LNG export project in Louisiana, pushing total project financing above $20 billion.

(P&GJ) — Venture Global has reached a final investment decision (FID) and secured $8.6 billion in project financing for Phase 2 of its CP2 LNG export terminal in Louisiana, bringing total financing for the project to $20.7 billion.

The company said the financing represents the largest standalone project financing in the U.S. bank market when combined with the Phase 1 funding announced in 2025. According to Venture Global, banks committed more than $19 billion toward the Phase 2 financing.

“We are extremely proud to have taken FID on the second phase of CP2, our third greenfield project, bringing Venture Global’s executed capital markets transactions to more than $95 billion,” said Venture Global CEO Mike Sabel.

“The tireless dedication of our team has enabled us to reach five final investment decisions in less than seven years, positioning us to become the largest U.S. exporter of LNG once CP2 is fully online.”

With the Phase 2 financing secured, Venture Global said it will continue construction activities already underway at the project.

The CP2 facility is expected to reach a peak production capacity of 29 million metric tons per year (MMtpy). The company said nearly all of the project’s nameplate capacity has already been contracted through long-term agreements with customers primarily located in Europe and Asia.

Venture Global said its total contracted capacity across its three Louisiana LNG projects now exceeds 49 MMtpy.

The financing was supported by a consortium of international banks, reflecting strong investor interest in U.S. LNG infrastructure.

Lead arrangers for the Phase 2 construction term loan and working capital facility included Banco Bilbao Vizcaya Argentaria (BBVA) and MUFG Bank.