PR96187

ARLINGTON, Va., May 26, 2022 /PRNewswire=KYODO JBN/ --

-- $13.2 billion project financing formally sanctions the first domestic US

   LNG export project to reach financial close since Venture Global's Calcasieu

   Pass.

-- Largest project financing transaction in the world closed in 2022.

Today Venture Global LNG is announcing a final investment decision (FID) and

successful closing of the $13.2 billion project financing for the initial phase

(an upsized 13.33 MTPA) of the Plaquemines LNG facility and the associated

Gator Express pipeline. This transaction represents the largest project

financing in the world closed to date in 2022. The 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.

Photo - https://mma.prnewswire.com/media/1825841/PLNG.jpg

"The Venture Global team is proud to announce FID on our second project,

Plaquemines LNG, just months after exports began at Calcasieu Pass. I want to

thank our team for their tireless efforts to support this remarkable

achievement," said Mike Sabel, CEO of Venture Global LNG. "Plaquemines will

build on the success of Calcasieu Pass, which broke global records for speed

and execution. The project has attracted robust financial and commercial

support which has enabled us to formally sanction this project at a critical

moment for energy markets. Speed matters more than ever and Venture Global is

uniquely positioned to quickly bring US LNG to the market to support global

energy security and environmental progress. I would like to thank our

customers, lenders, advisors, construction partners and local partners in

Louisiana for their trust and support."

Plaquemines LNG has received all necessary permits, including FERC

authorization and non-FTA export authorization from the U.S. Department of

Energy. In addition, the company has executed 20-year Sales and Purchase

Agreements (SPAs) for 80% of the full 20.0 MTPA project. Plaquemines LNG phase

one customers include PGNiG, Sinopec, CNOOC, Shell and EDF; phase two customers

announced to date include ExxonMobil, PETRONAS and New Fortress Energy.

Marketing is actively underway for the company's third facility, CP2, and two

SPAs with ExxonMobil and New Fortress Energy have already been executed for

this project.

The lender group for the company's construction financing includes the world's

leading banks, spanning multiple continents. The lenders who provided funding

at closing are: Bank of America, N.A., Banco Santander, S.A., Bank of China,

CaixaBank, S.A., Deutsche Bank AG, New York Branch, Goldman Sachs Bank USA,

Industrial and Commercial Bank of China Limited, ING Capital LLC, JPMorgan

Chase Bank, N.A., Landesbank Baden Württemberg, Mizuho Bank, Ltd., Morgan

Stanley Senior Funding, Inc., MUFG Bank, Ltd., Natixis, Nomura Securities

International, Inc., 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

LLP served as counsel to Venture Global and Skadden, Arps, Slate, Meagher &

Flom LLP served as counsel to the lenders.

About Venture Global LNG

Venture Global is a long-term, low-cost provider of U.S. LNG sourced from

resource rich North American natural gas basins. Venture Global's first

facility, Calcasieu Pass, commenced producing LNG in January 2022. The company

is also constructing or developing an additional 60 MTPA of production capacity

in Louisiana to provide clean, affordable energy to the world. The company is

developing Carbon Capture and Sequestration (CCS) projects at each of its LNG

facilities.

SOURCE  Venture Global LNG

CONTACT: Investor, Leah Woodward, +1 202 759-6746, lwoodward@vglng.com; Media,

Shaylyn Hynes, +1 202 920-0964, shynes@vglng.com