Venture Global LNG has announced a final investment decision (FID) and successful closing of the US$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. The proceeds of the debt and equity financing fully fund the balance of construction and commissioning of the initial phase of the Plaquemines LNG facility.
This transaction represents the largest project financing in the world closed to date in 2022. In addition, it is the first LNG project located in the United States to reach financial close since Venture Global’s Calcasieu Pass facility in August 2019, which Latham also advised on.
Latham & Watkins LLP represented Venture Global in the transaction with a project finance team led by New York partners Jonathan Rod and Chirag Dedania, with New York associates Annelise Karreman, Meredith Strike, Jesse Van Genugten, and Kimberley de Looze, Boston associate Austin Wruble, and Los Angeles associate Nick Eberhart. Advice was also provide on regulatory matters by Washington, D.C. partner Patrick Nevins; on tax matters by New York partner Jiyeon Lee-Lim, with associate Lukas Kutilek; and on environmental matters by Washington, D.C. partners James Barrett and Stacey VanBelleghem.