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ARLINGTON - Venture Global, Inc. (NYSE:VG), a $35.2 billion market cap energy company with $6.45 billion in trailing twelve-month revenue, announced Monday it has reached a final investment decision (FID) and closed $15.1 billion in project financing for the first phase of its CP2 LNG facility and associated CP Express Pipeline. According to InvestingPro analysis, the company currently appears overvalued relative to its Fair Value.
The financing represents the largest standalone project financing ever completed, according to the company’s press release statement. The transaction attracted over $34 billion in commitments from leading global banks and required no outside equity investment. With a current debt-to-equity ratio of 6.18 and total debt of $30.17 billion, InvestingPro data shows the company operates with a significant debt burden. Discover 12 additional key insights about Venture Global’s financial health with an InvestingPro subscription.
CP2 marks Venture Global’s third major liquefied natural gas project to reach FID in less than six years. The company has executed over $80 billion in capital markets transactions across its portfolio of LNG projects in Louisiana. Despite rapid cash burn, the company maintains strong liquidity with a current ratio of 1.73 and generated $2.69 billion in EBITDA over the last twelve months.
"This project, fully owned by Venture Global and our shareholders, is expected to deliver reliable American LNG to the world beginning in 2027," said Venture Global CEO Mike Sabel.
The CP2 facility will have a peak production capacity of 28 million tonnes per annum (MTPA). Phase 1 has secured long-term sale and purchase agreements with customers across Europe, Asia and other global markets. With this project, Venture Global reports its total contracted capacity has reached 43.5 MTPA across its three Louisiana projects.
The lending group includes 29 financial institutions from the United States, Europe and Asia. ING and Santander served as lead arrangers for the construction term loan and working capital facility, while Bank of America and Scotiabank led the equity bridge loan arrangements.
Venture Global began LNG production from its first facility in 2022. The company is developing carbon capture and sequestration projects at each of its LNG facilities.
In other recent news, Venture Global has reported its LNG export volumes and fees for the second quarter of 2025. The company exported 38 cargos totaling approximately 140.2 trillion British thermal units from its Calcasieu Pass facility, with a weighted average fixed liquefaction fee of about $2.66 per million British thermal units. Additionally, Venture Global and Italy’s Eni have signed a 20-year Sales and Purchase Agreement for 2 million tonnes per annum of liquefied natural gas from Venture Global’s CP2 LNG project. This agreement marks Eni’s first long-term contract with a U.S. LNG producer. Furthermore, Venture Global has expanded its existing LNG agreement with Germany’s SEFE, increasing SEFE’s total volume to 3.0 million tonnes per annum under a 20-year contract. On the analyst front, Scotiabank raised its price target for Venture Global to $16, maintaining a Sector Perform rating. Goldman Sachs also increased its price target to $18, with a Buy rating, expecting second-quarter EBITDA to surpass consensus estimates. These developments highlight Venture Global’s expanding partnerships and anticipated financial performance.
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