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Venture Global ( VG ) on track to become biggest U.S. LNG

exporter

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Company FIDs third project in six years

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Third LNG project to get financial go ahead since return

of

President Donald Trump

(New throughout, adds details, background and comment from CEO)

By Curtis Williams

July 28 (Reuters) -

U.S. liquefied natural gas company Venture Global ( VG )

said on Monday it has decided to go ahead with the construction

of its CP2 export facility in Louisiana after it closed $15.1

billion in financing for the first phase of the project.

Venture Global's ( VG ) stock rose 5% as investors cheered the

decision, which promises to boost the company's export capacity

by more than 70% within two years. It is the third positive

final investment decision for a U.S. LNG export project since

January. It also will help cement the U.S. position as

top global supplier

of the superchilled fuel.

"We are extremely proud to have taken FID on our third

greenfield project in under six years with over $80 billion in

capital markets transactions executed to date," Venture Global ( VG )

CEO Mike Sabel said.

With an expected production of 28 million metric tons

per annum (MTPA), CP2 will lift Venture Global's ( VG ) export capacity

67.2 million MTPA by 2027, from 39.2 million MTPA now, according

to company filings.

That would make it the country's top LNG export company

ahead of Cheniere Energy.

A mere startup three years ago, Venture Global ( VG ) has

quickly become

a major U.S. LNG exporter

by producing LNG even as its export facilities remain under

construction. Last month its two existing plants, Plaquemines

and CP1, exported over 2 million MT, according to data from

financial firm LSEG.

The announcement followed positive financial decisions

on two other U.S. LNG export facilities this year. Cheniere

approved its midscale Trains 8 & 9, and Woodside Energy ( WDS )

gave the go-ahead on its Louisiana project.

Several other proposed LNG projects await a decision.

The industry has enjoyed strong global demand and policy

support from U.S. President Donald Trump, who returned to office

in January promising to

unleash U.S. energy

. He also reversed a freeze on new export permits.

The U.S. is the world's top LNG exporter with total capacity

expected to reach 115 million MTPA this year, according to the

U.S. Energy Information Administration.

Venture Global ( VG ) said the lender group for the

construction financing included Bank of America ( BAC ), Barclays ( BCS ) and

BayernLB, among other U.S., Europe and Asia-based banks.

Venture Global ( VG ) said it now has a total contracted capacity

of 43.5 MTPA across all three of its projects in Louisiana.

The company's stock also got a boost from the European

Union's pledge of $750 billion worth of strategic purchases,

part of a sweeping trade pact.

Below is a list of other U.S LNG projects that could get

to FID before the end of the year.

Project Capacity

Port Arthur

Phase 2 13 MTPA

Commonwealth

LNG 9.5 MTPA

Lake Charles

16.5 MTPA

Next Decade

Train 4 5.4 MTPA