v3.26.1
Debt (Tables)
 6 Months Ended
Jun. 30, 2026
Debt Disclosure [Abstract]  
Schedule of Outstanding Debt
The following table summarizes outstanding debt:

MaturityJune 30,
2026		December 31,
2025
Fixed rate:
VGLNG Senior Secured Notes(a)
2029 - 2036$11,000 $11,000 
VGCP Senior Secured Notes(b)
2029 - 20365,500 4,750 
VGPL Senior Secured Notes(c)
2030 - 20369,500 9,500 
Other fixed rate debt(d)
202984 84 
Variable rate:
Calcasieu Funding TLB Facility(e)
20331,750 — 
Plaquemines Credit Facilities(f)
20292,683 2,683 
CP2 Credit Facilities(g)
20327,520 1,860 
CP2 Holdings EBL Facilities(h)
20281,979 3,000 
Blackfin Credit Facilities(i)
2030 - 20321,215 1,129 
VG Shipping Facility(j)
20321,155 — 
Calcasieu Pass Credit Facilities2026— 806 
Total outstanding debt42,386 34,812 
Less: Unamortized debt discount, premium and issuance costs(572)(607)
Total outstanding debt, net41,814 34,205 
Less: Current portion of long-term debt, net(287)(812)
Total long-term debt, net$41,527 $33,393 
____________
(a)Secured on a pari passu basis by a first-priority security interest in substantially all assets held by Venture Global LNG, Inc. ("VGLNG") and VGLNG’s membership interests in certain material direct subsidiaries.
(b)Secured on a pari passu basis by a first-priority security interest in substantially all assets held by Venture Global Calcasieu Pass, LLC ("VGCP") and TransCameron Pipeline, LLC (“TCP”) and all membership interests in VGCP and TCP, and guaranteed by TCP.
(c)Secured on a pari passu basis by a first-priority security interest in substantially all assets held by Venture Global Plaquemines LNG, LLC ("VGPL") and Venture Global Gator Express, LLC (“Gator Express”) and all membership interests in VGPL and Gator Express, and guaranteed by Gator Express.
(d)Secured by a first-priority security interest in corporate property.
(e)Secured by a first-priority security interest in substantially all assets held by Calcasieu Pass Funding, LLC (“Calcasieu Funding”) and all membership interests in Calcasieu Funding.
(f)Secured on a pari passu basis by a first-priority security interest in the assets that secure the VGPL Senior Secured Notes, and guaranteed by Gator Express.
(g)Secured by a first-priority security interest in substantially all assets held by Venture Global CP2 LNG, LLC ("CP2"), Venture Global CP Express, LLC (“CP Express”) and CP2 Procurement, LLC ("CP2 Procurement") and all of the membership interests in CP2, CP Express and CP2 Procurement, and guaranteed by CP2 Procurement and CP Express.
(h)Secured by a first-priority security interest in substantially all assets held by CP2 LNG Holdings, LLC ("CP2 Holdings") and all of the membership interests in CP2 Holdings.
(i)Secured on a pari passu basis by a first-priority security interest in substantially all assets held by Blackfin Pipeline, LLC ("Blackfin") and Blackfin Supply, LLC (“Blackfin Supply”) and all of the membership interests in Blackfin and Blackfin Supply, and guaranteed by Blackfin Pipeline Pledgor, LLC (“Blackfin Pledgor”) and Blackfin Supply.
(j)Secured by a first-priority security interest in substantially all assets held by Venture Global Shipping Holdings, LLC (“VGSH”) and each of its direct subsidiaries and all of the membership interests in VGSH and each of its direct subsidiaries, and guaranteed by each subsidiary of VGSH.
Schedule of Committed Credit Facilities
The following table summarizes the commitments and available capacity under project construction term loan facilities which have not been fully drawn as of June 30, 2026.

CP2 Construction Term LoanBlackfin TLA FacilityVG Shipping Facility
Total commitments$19,100 $425 $1,500 
Less: Outstanding balances7,520 145 1,155 
Available commitments$11,580 $280 $345 
The following table summarizes the commitments and available capacity under outstanding working capital and revolving credit facilities as of June 30, 2026.

VGLNG Revolving Credit Facility(a)
Calcasieu Pass Working Capital Facility(b)
Plaquemines Working Capital Facility(c)
CP2 Working Capital Facility(d)
Blackfin Working Capital Facility(e)
Total commitments$2,000 $555 $2,100 $1,600 $75 
Less:
Outstanding balances— — 154 — — 
Letters of credit issued— 201 998 257 — 
Available commitments$2,000 $354 $948 $1,343 $75 
Year of maturity20302033202920322030
____________
(a)Secured on a pari passu basis by a first-priority security interest in the assets that secure the VGLNG Senior Secured Notes.
(b)Secured on a pari passu basis by a first-priority security interest in the assets that secure the VGCP Senior Secured Notes, and guaranteed by TCP. Facility amended in June 2026, see below for further discussion.
(c)Secured on a pari passu basis by a first-priority security interest in the assets that secure the VGPL Senior Secured Notes and the Plaquemines Construction Term Loan, and guaranteed by Gator Express.
(d)Secured on a pari passu basis by a first-priority security interest in the assets that secure the CP2 Construction Term Loan, and guaranteed by CP Express and CP2 Procurement.
(e)Secured on a pari passu basis with the Blackfin TLA Facility and Blackfin TLB Facility, and guaranteed by Blackfin Pledgor and Blackfin Supply.
Schedule of Interest Expense
The following table presents total interest expense incurred on debt and other instruments:

Three months ended
June 30,		Six months ended
June 30,
2026202520262025
Stated interest$691 $542 $1,321 $1,068 
Amortization of debt discounts, premiums and issuance costs67 38 125 70 
Other interest and fees46 18 82 29 
Total interest cost804 598 1,528 1,167 
Capitalized interest(315)(288)(595)(581)
Total interest expense, net$489 $310 $933 $586