RELEASE: Venture Global Announces Final Investment Decision

(Information sent by the signatory company).

RELEASE: Venture Global Announces Final Investment Decision

(Information sent by the signatory company)

- Venture Global announces the final investment decision and financial close of the second phase of Plaquemines LNG

ARLINGTON, Va., March 13, 2023 /PRNewswire/ -- Today Venture Global LNG announces final investment decision (FID) and successful closing of $7.8 billion project financing for the second phase of the plant of Plaquemines LNG. Together, the first and second phases represent approximately $21 billion of investment, the largest project financing ever undertaken. Proceeds from the debt and equity financing fully finance the balance of the construction and commissioning of the second phase of the 20MTPA nominal capacity project. Today, the company has also issued a full notice to KZJV to continue construction of the second phase of Plaquemines LNG.

"Venture Global is proud to announce a positive Final Investment Decision (FID) for phase two of Plaquemines LNG, less than 10 months after sanctioning phase one," said Mike Sabel, CEO of Venture Global LNG. "Our company's continued ability to market, obtain financing and build our projects in an extremely competitive market is a testament to our team's proven track record of discipline and execution. I would like to thank our clients, lenders, advisors, partners builders and local partners in Louisiana for their continued support. Our team will continue to fulfill our mission of bringing more clean, low-cost US LNG to the world market in the coming years to support rapidly growing global energy demand."

Plaquemines LNG has received all necessary permits, including FERC clearance and non-FTA export clearance from the US Department of Energy. Plaquemines LNG phase two customers include ExxonMobil, Chevron, EnBW, New Fortress Energy, PETRONAS, China Gas and Excelerate Energy. Commercialization of the company's third facility, CP2 LNG, is already underway, and SPAs have signed on for CP2 LNG with Exxon Mobil, Chevron, EnBW, INPEX, China Gas and New Fortress Energy.

The group of lenders for construction finance includes the world's leading banks. The lenders that provided financing at closing are: BBVA, Banco Santander, Bank of America, Bank of China, Caixa Bank, Deutsche Bank, Goldman Sachs, ICBC Standard, ING, J.P. Morgan Chase, LBBW, Mizuho, ​​MUFG, Natixis, Royal Bank of Canada, Sumitomo Mitsui Banking Corporation, The Bank of Nova Scotia, Wells Fargo Bank, National Bank of Canada, KfW Ipex-Bank, Helaba, DZ Bank, and Regions Bank.

ING, Santander, Mizuho, ​​Scotia and SMBC acted as Venture Global's lead banks in the transaction. latham

About Venture Global LNGVenture Global is a long-term, low-cost provider of US LNG from resource-rich North American natural gas basins. Venture Global's first plant, Calcasieu Pass, began producing LNG in January 2022. The company is also building or developing an additional 60 MTPA production capacity in Louisiana to provide affordable clean energy to the world. The company is developing carbon capture and sequestration (CCS) projects at each of its LNG facilities.

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