Venture Global has secured an $8.6 billion financial close for the second phase of its Calcasieu Pass 2 (CP2) LNG development in Louisiana. This final investment decision (FID) follows the $15.1 billion FID for the project's first phase less than a year ago, bringing total financial backing for CP2 to $20.7 billion. A consortium of 26 banks, including major institutions like Bank of America, JPMorgan Chase, and Goldman Sachs, is financing the second phase.

Project Development and Capacity

CP2 is Venture Global's third greenfield project. With this latest FID, the company has executed capital markets transactions exceeding $95 billion and has taken five FIDs in approximately seven years, starting with the original Calcasieu Pass in 2019. Construction on the first phase of CP2 began last summer, with Worley serving as the engineering, procurement, and construction contractor for both phases. The combined project is currently designed for a peak production capacity of 29 million tonnes per annum, targeting first production in 2027.

Planned Expansions

Venture Global is actively seeking to increase CP2's capacity beyond the current plan. The company has filed applications with the Federal Energy Regulatory Commission and the Department of Energy to boost the peak capacity to 35 million tpa. Furthermore, a separate expansion project is being pursued to add another 11.7 million tpa across 12 new liquefaction trains, with applications for this expansion intended to be filed in the first half of 2026.