Venture Global LNG has announced that its $5.8 billion Calcasieu Pass LNG construction financing has received more than $10 billion in binding commitments from initial coordinating lead arrangers.
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, La.
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 consists of the world’s leading Asian, European and North American project-finance banks.
The company has now secured more than $8.6 billion of capital and is continuing full construction and fabrication activity at Calcasieu Pass, according to Mike Sabel and Bob Pender, co-CEOs of Venture Global LNG.
