According to Venture Global, the offering included a series of 6.125 percent senior secured notes due 2030 in an aggregate principal amount of $1.75 billion and a series of 6.500 percent senior secured notes due 2034 in an aggregate principal amount of $1.25 billion.
The 2030 notes will mature on December 15, 2030, and the 2034 notes will mature on June 15, 2034.
Venture Global had previously announced the issuance of $2,5 billion of senior secured notes by VGPL on April 21, 2025, and $4 billion of senior secured notes by VGPL on July 3, 2025.
This new offering brings the combined aggregate amount of senior secured notes issued by VGPL to $9.5 billion since the project began producing LNG in December 2024.
VGPL intends to use the net proceeds from the offering to prepay certain amounts outstanding under VGPL’s existing senior secured first lien credit facilities and pay fees and expenses in connection with the offering.
The notes are guaranteed by VGPL’s affiliate Venture Global Gator Express.
Also, the Notes are secured on a pari passu basis by a first-priority security interest in the assets that secure the existing credit facilities and the existing notes.
Plaquemines LNG expansion
Venture Global took a final investment decision on the first phase of the Plaquemines project with a capacity of 13.3 mtpa and the related pipeline in May 2022, while the company sanctioned the second phase in March 2023.
The full project, including the second stage, features 36 modular units, configured in 18 blocks. Each train has a capacity of 0.626 mtpa.
Earlier this year, Venture Global also received approval from FERC to boost the capacity of its Plaquemines LNG terminal to 27.2 mtpa.
In addition, Venture Global LNG now plans to more than double liquefaction capacity at its Plaquemines LNG terminal in Louisiana due to optimization of liquefaction trains and “strong” market demand.
Venture Global recently filed with the US Federal Energy Regulatory Commission (FERC) its application for the permitting and approval of the Plaquemines LNG brownfield expansion project.
The company has since March increased the expected output from this project by “nearly 40 percent from the previously announced plans due to the continued optimization of our liquefaction trains and strong market demand.”
This bolt-on expansion will be built incrementally in three phases and consist of 32 modular liquefaction trains, adding in total over 30 mtpa in peak production capacity, according to Venture Global.
Venture Global said this would bring the total peak production capacity across the entire Plaquemines complex to over 58 mtpa.
The LNG producer expects to ship 234 – 238 cargoes from the Plaquemines project in 2025, inclusive of the 144 cargoes it exported from the project in the first nine months of this year.
