March 16, 2026 [Offshore Technology]- Venture Global has secured a final investment decision (FID) and $8.6bn in project financing for the second phase of its Venture Global CP2 LNG (CP2) project in Louisiana, US.

This development, coupled with the phase one financing announced in July 2025, is said to be the largest stand-alone project financing in the US bank market.

The latest transaction saw commitments exceeding $19bn for phase two, adding to the $34bn committed for phase one, with no additional equity investment from external sources.

The CP2 project is set to have a peak production capacity of 29 million tonnes per annum (mtpa).

It has also secured long-term contracts for nearly all of its output, primarily with clients in Europe and Asia.

This positions the project as a key asset in global energy supply and security.

Across its three projects in Louisiana, Venture Global now has a contracted capacity exceeding 49mtpa.

The construction financing lender group consists of major global banks, reflecting strong interest in US liquefied natural gas (LNG) investments both domestically and internationally.

Participating banks include Banco Santander, Bank of America, Bank of China, Barclays, Deutsche Bank, Goldman Sachs and JPMorgan Chase, among others.

Venture Global CEO Mike Sabel said: “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 $95bn.

“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 US exporter of LNG once CP2 is fully online.

“With the phase two financing secured, we will build on the strong construction progress already under way and deliver reliable American LNG to customers around the world.”

Lead arrangers for the construction term loan and working capital facility were Banco Bilbao Vizcaya Argentaria and MUFG Bank.

Legal counsel to Venture Global was provided by Latham & Watkins, while Skadden, Arps, Slate, Meagher & Flom represented the lenders across all financial facilities.

In November 2025, Venture Global and Tokyo Gas executed a new LNG sales and purchase agreement, under which Tokyo Gas will receive 1mtpa of LNG from Venture Global for 20 years, commencing in 2030.