Venture Global Secures $15B Financing for CP2 LNG Project, Boosts US Gas Exports to Europe

Venture Global has taken a final investment decision and closed a $15.1B financing for Phase 1 of the CP2 LNG project, which will export US liquefied natural gas to Europe. The project is expected to feed the growing demand for US LNG exports in Europe, following Russia's invasion of Ukraine.

Venture Global has taken a significant step in securing the future of its liquefied natural gas (LNG) exports to Europe by finalizing a $15.1 billion financing deal for Phase 1 of its CP2 LNG project. This move comes amidst the growing demand for U.S. LNG exports following Russia's invasion of Ukraine.

The transaction, which marks the largest standalone project financing ever completed, garnered substantial interest from the global banking sector, with over $34 billion in commitments without requiring outside equity investment. Venture Global CEO Mike Sabel expressed pride in the company's ability to achieve this milestone, noting that it is the third greenfield project in under six years with over $80 billion in capital markets transactions executed to date [1].

The CP2 project, expected to deliver reliable American LNG to the world beginning in 2027, will have a peak production capacity of 28 million metric tons per annum (MTPA). This strategic positioning will serve customers across Europe, Asia, and other global markets through long-term sale and purchase agreements. Upon completion, Venture Global aims to become the largest exporter of U.S. LNG [1].

The financing consortium includes over 25 major financial institutions from around the world, including Bank of America, Goldman Sachs, J.P. Morgan, and SMBC, demonstrating strong international confidence in the U.S. LNG sector [1]. The announcement follows the United States and European Union's finalization of a framework trade deal that includes the EU's commitment to $750 billion in strategic energy purchases, including LNG [1].

The CP2 project received regulatory approval from FERC in May after an additional environmental review focusing on air quality impacts. Environmental groups had opposed the project, but it received the necessary regulatory approval to proceed [1]. With CP2's construction now officially underway, Venture Global continues to strengthen its position in the global LNG market while expanding U.S. export capacity for this strategically important energy resource [1].

This development follows Venture Global's successful launch of commercial operations at its Calcasieu Pass facility in April 2025 and its Plaquemines LNG facility, which began production in December 2024. The company now has a total contracted capacity of 43.5 MTPA across its three Louisiana projects [2].

The financing deal is expected to boost Venture Global's export capacity by more than 70% within two years, making it the country's top LNG export company ahead of Cheniere Energy [2]. The U.S. is the world's top LNG exporter with total capacity expected to reach 115 million MTPA this year, according to the U.S. Energy Information Administration [2].

The European Union's promise to buy $750 billion of American energy imports over three years was pivotal to securing the trade deal but faces significant challenges in achieving this ambitious target. The EU has yet to provide a detailed breakdown of the figures, and it remains unclear how private companies can be convinced to purchase or sell US oil and gas [3].

References:
[1] https://gcaptain.com/venture-global-secures-record-15-1-billion-financing-for-cp2-lng-project/
[2] https://finance.yahoo.com/news/venture-global-okays-construction-cp2-194555013.html
[3] https://www.bloomberg.com/news/articles/2025-07-28/the-eu-s-monster-energy-deal-with-trump-looks-hard-to-achieve