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Venture Global LNG and Stonepeak announce investment in Calcasieu Pass

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LNG Industry,


Venture Global LNG, Inc. and Stonepeak Infrastructure Partners have executed definitive agreements under which Stonepeak will exclusively provide a US$1.3 billion equity investment in Venture Global’s 10 million tpy Calcasieu Pass LNG export facility.

According to the statement, this brings total committed capital to fund the construction of the facility and the continued development of Venture Global’s 20 million tpy Plaquemines LNG and 20 million tpy Delta LNG facilities to US$2.2 billion.

Venture Global LNG Co-CEO Mike Sabel said: “We are happy to announce this important milestone for Calcasieu Pass and very proud to partner with a world class investor like Stonepeak. Their team brings a great depth of LNG knowledge and a track record of investing in exceptional infrastructure projects throughout North America.”

Co-CEO Bob Pender added: “Calcasieu Pass is already significantly advanced in both site construction and module manufacturing, owing to the US$855 million previously raised to date. We are finalising 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.”

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.”

Read the article online at: https://www.lngindustry.com/liquefaction/29052019/venture-global-lng-and-stonepeak-announce-investment-in-calcasieu-pass/

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