Venture Global Raises $10B for LNG Project

Venture Global LNG, Inc. is proud to announce that the company’s $5.8 billion Calcasieu Pass LNG construction financing has received over $10 billion in binding commitments from Initial Coordinating Lead Arrangers. The transaction is nearly two times oversubscribed, prior to retail syndication. The proceeds of the construction financing, along with the equity investment from Stonepeak Infrastructure Partners, will fund the construction and commissioning of the Calcasieu Pass facility and the associated TransCameron pipeline.

The lender group includes the world’s leading Asian, European and North American project finance banks.

The bank group is Banco Santander, S.A, Bank of America, N.A., Goldman Sachs Bank USA, Industrial & Commercial Bank of China Limited, ING Capital LLC, JPMorgan Chase Bank, N.A., Mizuho Bank, Ltd., Morgan Stanley Senior Funding, Inc., Natixis, Nomura Securities International, Inc., Royal Bank of Canada, Sumitomo Mitsui Banking Corporation, and The Bank of Nova Scotia.

Venture Global LNG Co-CEOs Mike Sabel and Bob Pender jointly stated, “The incredible market response to our Calcasieu Pass debt facility is the culmination of many years of work by our team. We are incredibly proud that the world’s leading project finance institutions have responded with such a validation of the quality of our structure and partners with outstanding terms and a significant oversubscription. The company has now secured more than $8.6 billion of capital and is continuing full construction and fabrication activity at Calcasieu Pass.”

The 10 MTPA Venture Global Calcasieu Pass facility will employ a comprehensive process solution from Baker Hughes, a GE company (BHGE) that utilizes highly efficient mid-scale, modular, factory-fabricated liquefaction trains. Kiewit is designing, engineering, constructing, commissioning, testing and guaranteeing the facility.

Calcasieu Pass has received all necessary permits, including FERC authorization and Non-FTA export authorization from the U.S. Department of Energy. Venture Global LNG is also developing the 20 MTPA Plaquemines LNG project and the 20 MTPA Delta LNG project, both in Plaquemines Parish, Louisiana.