US liquefied natural gas producer Venture Global has taken a final investment decision and closed $15.1bn in project financing for the first phase of its third development, CP2 LNG in Louisiana.
The company said the project has secured more than $34bn in commitments, making it the largest standalone project financing to date.
“We … have taken FID on our third greenfield project in under six years with over $80bn in capital markets transactions executed to date,” said Mike Sabel, CEO of Venture Global.
CP2, which will have a peak production capacity of 28 million tonnes per annum (mtpa), is expected to make the company the largest exporter of US LNG.
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