reply VG announces investment decision and financial close for Plaquemines County Phase II

The second phase of the US$7.8 billion financing completes the approximately US$21 billion Plaquemines County LNG project, the largest financing in its history. The Company gave full notice that it will continue to move forward with construction of Phase II. The Plaquemines County Phase II project was the first to receive a final investment decision for 2023 and is expected to be the next addition of LNG capacity in North America. ARLINGTON, Virginia, March 14, 2023 /PRNewswire/ -- Today, Venture Global LNG ("VG") announced a final investment decision and the successful closing of a $7.8 billion financing for Phase II of the Plaquemines County LNG facility. With a total investment of approximately $21 billion, Plaquemines County Phase I and Phase II is the largest financing ever. The proceeds associated with the debt and equity financing provided sufficient funding for the construction and commissioning balance of Phase II of the 20 MTPA rated productivity project. Today, the company also gave full notice that KZJV will continue to move forward with construction of Phase II of the Plaquemines County LNG project.Venture Global LNG CEO Mike Sabel said: "Less than 10 months after the approval of Phase 1, Venture Global is proud to announce a positive final investment decision for the Plaquemines County LNG Phase 2 project. Our company's ability to continue to commercialize, secure financing and build our projects in an extremely competitive market is a testament to our team's discipline and strong execution. I would like to thank the many clients, lenders, consultants, construction partners and local partners in Louisiana for their unfailing support. Our team will continue to fulfill its mission to deliver cleaner, cheaper U.S. liquefied natural gas (US LNG) to global markets in the coming years to support the world's rapidly growing energy needs."Plaquemines LNG has received all necessary permits from the U.S. Department of Energy, including FERC authorization and non-FTA export permits. Customers for Phase II of the Plaquemines County LNG project include ExxonMobil, Chevron, EnBW, New Fortress Energy, PETRONAS, China Gas and Excelerate Energy. Marketing of the Company's third facility, CP2 LNG, is actively underway, and CP2 LNG has signed spa agreements with Exxon Mobil, Chevron, EnBW, INPEX, China Gas and New Fortress Energy. The group of lenders financing the building includes many of the world's leading banks. Natixis, Royal Bank of Canada, Sumitomo Mitsui Banking Corporation, Bank of Nova Scotia, Wells Fargo Bank, National Bank of Canada, KfW Ipex-Bank, Helaba, German Central Bank for Cooperation and Regions Bank. ING, Santander, Mizuho, Scotia and SMBC acted as lead banks for the Venture Global transaction. Latham & Watkins LLP acted as legal advisor to Venture Global and Skadden, Arps, Slate, Meagher & Flom LLP acted as legal advisor to the lenders.About Venture Global LNGVenture Global is a long-term, low-cost supplier of U.S. LNG from the abundant resources of the North American natural gas basin, and its first facility, Calcasieu Pass, begins first LNG production in January 2022. The company is also building or developing a total of 60 million tonnes per year of additional capacity in Louisiana to provide the world with clean and affordable energy. The company is developing various carbon capture and storage (CCS) projects at each of its LNG facilities.