The deal may not have the cross-collateralisation bells and whistles of other recent US LNG financings, but Port Arthur LNG is a robust project financing and a bellwether for future US LNG projects and their customer base.

Is smaller ticket asset bundling the way to develop a consistent US P3 pipeline?

There are still questions to be answered about Venture Global’s recent corporate high-yield bond issue, which appears to rely heavily on revenues from commissioning cargoes priced at the current lucrative spot market rate. Given average LNG commissioning periods of three months, what happens when its much cheaper long-term offtake contracts kick in?