The financing will be used to fund the construction and commissioning of the Calcasieu Pass facility and the associated TransCameron pipeline
Venture Global LNG has secured over $10bn (£8bn) in binding commitments from initial coordinating lead arrangers for the construction of $5.8bn (£4.6bn) Calcasieu Pass LNG in the US.
The Calcasieu Pass LNG export facility is planned to be built in Cameron Parish, towards the southern edge of the city of Lake Charles in Louisiana, on the intersection between the Calcasieu Ship Channel and the Gulf of Mexico.
The new financing, along with the Stonepeak Infrastructure Partners’ equity investment, will be used to fund the construction and commissioning of the Calcasieu Pass facility and the associated TransCameron pipeline.
The lender group includes the project finance banks including Banco Santander, Bank of America, Goldman Sachs Bank USA, Industrial & Commercial Bank of China, ING Capital, JPMorgan Chase Bank, Mizuho Bank, Morgan Stanley Senior Funding, Natixis, Nomura Securities International, Royal Bank of Canada, among others.
The Calcasieu Pass LNG export facility will be commissioned in 2022
Scheduled for commissioning in 2022, the export facility will have a capacity of 10 million tonnes per annum (MTPA).
Venture Global LNG Co-CEOs Mike Sabel and Bob Pender said in a joint statement: “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 Calcasieu Pass facility will feature factory-fabricated mid-scale, modular liquefaction trains, which will be supplied by Baker Hughes, a GE company (BHGE).
Kiewit is responsible for designing, engineering, construction, commissioning, and testing of the facility, which has already secured all necessary permits, including FERC authorization and Non-FTA export authorization from the US Department of Energy.
Venture Global LNG is also developing the 20 MTPA Delta LNG project as well as the 20 MTPA Plaquemines LNG project in Louisiana, US.