Venture Global Raises $10B for LNG Project
Venture Global LNG, Inc. has secured more than $10 billion in binding commitments for its Calcasieu Pass LNG project in Cameron Parish, Louisiana, the company announced Thursday.
Proceeds of the construction financing, along with a $1.3 billion equity investment from Stonepeak Infrastructure Partners, will pay for the construction and commissioning of the Calcasieu Pass facility and the associated TransCameron pipeline.
“The incredible market response to our Calcasieu Pass debt facility is the culmination of many years of work by our team,” Venture Global LNG co-CEOs Mike Sabel and Bob Pender jointly stated in a release. “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.”
Calcasieu Pass has received all necessary permits, including FERC authorization and Non-FTA export authorization from the U.S. Department of Energy.
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