Plaquemines LNG

Plaquemines LNG and Gator Express Pipeline - Financing

Borrower (s)
Industry
Oil & gas/LNG
Area of finance
Project & Infrastructure Finance
Region
North America
Countries
United States

Deal Overview

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...

show more

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.

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.

The lender group for the construction financing are Bank of America; Banco Santander; Bank of China; CaixaBank; Deutsche Bank; Goldman Sachs Bank; Industrial and Commercial Bank of China; ING Capital; JPMorgan Chase Bank; Landesbank Baden Wurttemberg; Mizuho Bank; Morgan Stanley Senior Funding; MUFG Bank; Natixis; Nomura Securities International; Royal Bank of Canada; Sumitomo Mitsui Banking Corporation; The Bank of Nova Scotia; and Truist Bank.

Bank of America, Goldman Sachs, ING, JP Morgan, Mizuho, Morgan Stanley and RBC served as Lead Banks to Venture Global for the transaction. Latham & Watkins served as counsel to Venture Global and Skadden, Arps, Slate, Meagher & Flom served the lenders.

show less
Deal Volume
$ 11.66bn
Financial Close
25 May 2022
Sources
Press release, Proximo article, Submitted by participant(s)

All Dealmakers

Tranches


To view all tranche and pricing information, please sign up or log in

Projects

Plaquemines LNG Export Project

Greenfield
LNG
North America
United States
$ 8.5bn

Gator Express LNG Pipeline Project

Greenfield
Oil - Midstream (Transportation)
North America
United States
$ 6.6bn