Venture Global LNG’s Calcasieu Pass LNG project will have a nameplate capacity of 10MTPA
Venture Global LNG has secured an equity investment of $1.3bn (£1.03bn) from Stonepeak Infrastructure Partners for its $4.5bn (£3.56bn) Calcasieu Pass LNG project to be built in Cameron Parish, Louisiana.
The LNG export facility, which will have a capacity of 10 million tonnes per annum (MTPA), is scheduled to be commissioned in 2022.
According to Venture Global LNG, the total committed capital to fund the construction of the Calcasieu Pass LNG project and the continued development of the Plaquemines LNG facility and the Delta LNG facility has reached $2.2bn (£1.74bn).
Stonepeak senior managing director Jack Howell said: “We are long-term believers in the increasing importance of LNG as a global source of greener, cheaper energy and Stonepeak could not be more pleased to support Venture Global through the financing of this exciting project.
“Calcasieu Pass will be a critical provider of LNG to its blue-chip customer base and we look forward to supporting Venture Global, who we believe to be a global leader in developing low cost LNG production, in its efforts to bring cost-advantaged supply to new and existing markets.”
The Plaquemines LNG facility to be built in Louisiana with an investment of $8.5bn (£6.72bn) will have a capacity 20MTPA. On the other hand, the Delta LNG facility, which will have the same capacity as Plaquemines LNG, will be built on the Mississippi River south of New Orleans.
Calcasieu Pass LNG project regulatory approvals
In February, the US Federal Energy Regulatory Commission (FERC) approved the Calcasieu Pass LNG project and the associated TransCameron Pipeline, which will extend from the proposed LNG terminal to near Grand Chenier in Louisiana.
The LNG export project has secured all necessary permits, which also include non-FTA export authorization from the US Department of Energy.
Currently, construction work is in progress at the LNG project with Kiewit handling the engineering, procurement, and construction (EPC) activities.
The Calcasieu Pass LNG project will deploy a process solution from GE’s Baker Hughes that uses mid-scale, modular, factory-fabricated liquefaction trains.
Venture Global LNG Co-CEO Bob Pender said: “Calcasieu Pass is already significantly advanced in both site construction and module manufacturing, owing to the $855 million previously raised to date.
“We are finalizing the balance of our Calcasieu Pass financing with our consortium of project finance lenders, and we look forward to providing LNG to our global customers – Shell, BP, Edison S.p.A., Galp, Repsol and PGNiG – in 2022.”