Deal details
Venture Global Plaquemines LNG Phase 1 and Gator Express Pipeline - Financing
Description
Venture Global LNG has taken a final investment decision (FID) and closed the $13.2 billion project financing for the initial 13.3 MTPA phase of the Plaquemines LNG facility and associated Gator Express pipeline. Proceeds of the debt and equity financing fully fund the balance of construction and commissioning of the initial phase. This is the first LNG project located in the United States to reach financial close since Venture Global's Calcasieu Pass facility in August 2019, and was the largest project financing in the world in 2022.Venture Global has executed 20-year Sales and Purchase Agreements for 80% of the full 20 MTPA capacity. Phase one customers include PGNiG, Sinopec, CNOOC, Shell and EDF while phase two customers to date include ExxonMobil, PETRONAS and New Fortress Energy.
Assets involved
Companies involved
- Industrial and Commercial Bank of China (ICBC), Royal Bank of Canada, Goldman Sachs, JP Morgan, CaixaBank, Scotia Bank (The Bank of Nova Scotia), Santander, Deutsche Bank, Bank of China, Landesbank Baden - Wurttemberg (LBBW), Nomura, Mizuho, ING Bank, Truist Bank, MUFG, Sumitomo Mitsui Banking Corporation (SMBC), Natixis, Bank Of America (BoA), Norddeutsche Landesbank (NORD/LB), Morgan Stanley
- Industrial and Commercial Bank of China (ICBC), ING Bank, Natixis, MUFG, Deutsche Bank, Bank of China, Scotia Bank (The Bank of Nova Scotia), Mizuho, Santander, Nomura, Landesbank Baden - Wurttemberg (LBBW), Royal Bank of Canada, CaixaBank, Goldman Sachs, JP Morgan, Sumitomo Mitsui Banking Corporation (SMBC), Bank Of America (BoA), Morgan Stanley
- Latham & Watkins
- Sumitomo Mitsui Banking Corporation (SMBC)
- Sumitomo Mitsui Banking Corporation (SMBC)
- MUFG, ING Bank, Bank Of America (BoA), Goldman Sachs, Sumitomo Mitsui Banking Corporation (SMBC), Mizuho, JP Morgan, Royal Bank of Canada, Morgan Stanley
- China National Offshore Oil Corporation (CNOOC), Sinopec, PGNiG (Polish Petroleum and Gas Mining), Petroliam Nasional Berhad (Petronas), Exxon Mobil, Royal Dutch Shell, EDF Energy , New Fortress Energy
- ING Bank
- ING Bank, Goldman Sachs, Sumitomo Mitsui Banking Corporation (SMBC), MUFG
- ING Bank, Scotia Bank (The Bank of Nova Scotia)
- Skadden, Arps, Slate, Meagher & Flom, Stone Pigman Walher Wittman
- Mizuho, Santander, JP Morgan
- Royal Bank of Canada
- Zachry Industrial, KBR Inc
- Natixis
- Royal Bank of Canada
- Royal Bank of Canada
- Venture Global LNG
- Kean Miller LLP
Key information
Venture Global Plaquemines LNG LLC
13109$m
25-05-2022
Oil & gas / LNG
United States
Project & Infrastructure Finance
Not PPP
Tranche information
Term Loan
1,450$
Term Loan
1450$m
US Dollar - USD
0
2.0 years
-
-
-
| Participant | role | ticket size |
|---|---|---|
| Royal Bank of Canada | Lender | 175$m |
| JP Morgan | Lender | 100$m |
| Nomura | Lender | 175$m |
| Goldman Sachs | Lender | 175$m |
| Mizuho | Lender | 175$m |
| Deutsche Bank | Lender | 74$m |
| ING Bank | Lender | 175$m |
| Santander | Lender | 100$m |
| Bank Of America (BoA) | Lender | 175$m |
| Sumitomo Mitsui Banking Corporation (SMBC) | Lender | 125$m |
Term Loan
8,459$
Term Loan
8459$m
US Dollar - USD
0
7.0 years
-
-
-
| Participant | role | ticket size |
|---|---|---|
| Bank Of America (BoA) | Lender | 433$m |
| Truist Bank | Lender | 433$m |
| JP Morgan | Lender | 433$m |
| Santander | Lender | 433$m |
| Bank of China | Lender | 433$m |
| CaixaBank | Lender | 433$m |
| Deutsche Bank | Lender | 433$m |
| Goldman Sachs | Lender | 433$m |
| Industrial and Commercial Bank of China (ICBC) | Lender | 433$m |
| ING Bank | Lender | 597$m |
| Scotia Bank (The Bank of Nova Scotia) | Lender | 433$m |
| Mizuho | Lender | 433$m |
| Morgan Stanley | Lender | 433$m |
| MUFG | Lender | 433$m |
| Natixis | Lender | 433$m |
| Nomura | Lender | 433$m |
| Royal Bank of Canada | Lender | 433$m |
| Sumitomo Mitsui Banking Corporation (SMBC) | Lender | 449$m |
| Norddeutsche Landesbank (NORD/LB) | Lender | 50$m |
| Landesbank Baden - Wurttemberg (LBBW) | Lender | 433$m |
WCF
1,100$
Term Loan
1100$m
US Dollar - USD
0
7.0 years
-
-
-
| Participant | role | ticket size |
|---|---|---|
| Bank Of America (BoA) | Lender | 54$m |
| Goldman Sachs | Lender | 54$m |
| Deutsche Bank | Lender | 54$m |
| CaixaBank | Lender | 54$m |
| Bank of China | Lender | 54$m |
| Santander | Lender | 54$m |
| Landesbank Baden - Wurttemberg (LBBW) | Lender | 54$m |
| Norddeutsche Landesbank (NORD/LB) | Lender | 50$m |
| Truist Bank | Lender | 54$m |
| JP Morgan | Lender | 54$m |
| Sumitomo Mitsui Banking Corporation (SMBC) | Lender | 54$m |
| Royal Bank of Canada | Lender | 54$m |
| Nomura | Lender | 54$m |
| Natixis | Lender | 54$m |
| MUFG | Lender | 54$m |
| Morgan Stanley | Lender | 54$m |
| Mizuho | Lender | 54$m |
| Scotia Bank (The Bank of Nova Scotia) | Lender | 54$m |
| ING Bank | Lender | 77$m |
| Industrial and Commercial Bank of China (ICBC) | Lender | 54$m |
LC
2,100$
Letter of Credit
2100$m
US Dollar - USD
0
2.0 years
-
-
-
| Participant | role | ticket size |
|---|---|---|
| Truist Bank | Lender | 111$m |
| JP Morgan | Lender | 111$m |
| Royal Bank of Canada | Lender | 111$m |
| Nomura | Lender | 111$m |
| Natixis | Lender | 111$m |
| MUFG | Lender | 111$m |
| Morgan Stanley | Lender | 111$m |
| Mizuho | Lender | 111$m |
| Scotia Bank (The Bank of Nova Scotia) | Lender | 111$m |
| Landesbank Baden - Wurttemberg (LBBW) | Lender | 111$m |
| ING Bank | Lender | 148$m |
| Industrial and Commercial Bank of China (ICBC) | Lender | 111$m |
| Goldman Sachs | Lender | 111$m |
| Deutsche Bank | Lender | 111$m |
| CaixaBank | Lender | 111$m |
| Bank of China | Lender | 111$m |
| Santander | Lender | 111$m |
| Sumitomo Mitsui Banking Corporation (SMBC) | Lender | 58$m |
| Bank Of America (BoA) | Lender | 111$m |