Latham & Watkins Advises Venture Global in US$15.1 Billion Project Financing for Phase 1 of CP2 LNG

Venture Global, Inc. (NYSE: VG) has announced a final investment decision (FID) and successful closing of the US$15.1 billion project financing for the first phase of the company’s third project, Venture Global CP2 LNG (CP2), together with the associated CP Express Pipeline. This milestone represents the largest standalone project financing transaction ever, and the second largest when combining the first and second phase financings of Venture Global’s Plaquemines LNG. The transaction garnered enormous interest from the world’s leading banks, resulting in over US$34 billion of commitments, and required no outside equity investment.

Latham & Watkins LLP represented Venture Global in the transactions, advising on project financing and the equity bridge loan, led by New York partners Chirag Dedania and Annelise Karreman; with associates Taylor Owens,* Meredith Strike, Chidi Onyeche,** Javier Arreola, Alice Dales,* Nanni Kim, and Annique Roberts assisting on project financing; and associates Cáit O’Neill, Miles Primason, and Mina Kim assisting on the equity bridge loan. Advice was also provided on regulatory matters by Washington, D.C. partner Patrick Nevins; on real estate matters by New York counsel Lisa Brabant, with associate Michael Nieberg; on hedging matters by New York partner Yvette Valdez, with associates Naffie Lamin and Jim Lambert; on tax matters by Houston partner Jim Cole, New York partner Aaron Bernstein, and Madrid partner Ivan Rabanillo; on environmental matters by Century City/Houston partner Joshua Marnitz; and on benefits and compensation matters by Los Angeles/New York counsel Aryeh Zuber.

*Admitted to practice in Victoria (Australia) only.

**Admitted to practice in England and Wales only.