Syndication of the project financing backing Global Infrastructure Partners’ (GIP) 49% share of the $5.6 billion Pluto LNG Train 2 in Australia has closed. Operator Woodside owns 51% of Pluto LNG Train 2 and did not raise project finance debt for its share of the scheme. GIP has also agreed to provide up to $835 million to fund its share of any cost overruns for the project.The project will have a capacity of five-million tonnes a year, and additional gas infrastructure will be installed with capacity of 225 TJ/d.The Pluto Train 2 project will support the export of around eight-million tonnes a year of LNG, and the delivery of around 1 400 PJ of gas to the Western Australian market, through a new domestic gas production facility to be built at the Pluto site. The project will facilitate domestic gas supply from the Scarborough gasfield, securing the state's long-term energy needs, and unlock new industrial and downstream processing developments.The Pluto Train 2 Project will employ about 2 000 people at peak in 2024, with a large contingent of employees expected to be drawn from within Western Australia.