Venture Global gets $500 Million Loan for Plaq. LNG Facility

In a press release published on February 11, Venture Global LNG (Liquified Natural Gas) announced that they received a $500 million loan from a group of major banks for the funding of “pre-[Final Investment Decision] construction activities at the company’s Plaquemines LNG export project!’

The press release noted that, originally, the loan was supposed to be for $400 million, but it was increased due to “strong lender interest!’ The banks responsible for providing the loan were JPMorgan Chase, Morgan Stanley, Mizuho Bank, and Bank of America.

‘We are proud to continue to partner with this group of leading banks, all of whom are lenders to our Calcasieu Pass LNG export facility, as we move towards the launch of full construction on Plaquemines LNG in 2021,” CEO of Venture Global Mike Sabel stated in the press release. “We will continue to execute on our commitment to provide the lowest cost LNG to the global market and supply the world’s growing demand for clean and reliable energy!’

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