Stonepeak invests $1.3 billion in Calcasieu Pass LNG

Venture Global LNG Inc. has received a $1.3 billion equity investment from Stonepeak Infrastructure Partners for its 10-million tonne/year Calcasieu Pass LNG export facility in Cameron Parish, La. Total committed capital to fund construction of Calcasieu Pass and the continued development of Venture Global’s 20 million-tpy Plaquemines LNG and 20 million-tpy Delta LNG facilities is now $2.2 billion.

May 28th, 2019

Venture Global LNG Inc. has received a $1.3 billion equity investment from Stonepeak Infrastructure Partners for its 10-million tonne/year Calcasieu Pass LNG export facility in Cameron Parish, La.

Total committed capital to fund construction of Calcasieu Pass and the continued development of Venture Global’s 20 million-tpy Plaquemines LNG and 20 million-tpy Delta LNG facilities is now $2.2 billion.

“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 SPA, Galp, Repsol, and PGNiG—in 2022,” said Bob Pender, Venture Global co-chief executive officer.

The Calcasieu facility will employ a process solution from Baker Hughes that utilizes midscale, modular, factory-fabricated liquefaction trains. Kiewit is designing, engineering, constructing, commissioning, testing, and guaranteeing the facility.

Calcasieu Pass has received all necessary permits, including authorization from the US Federal Energy Regulatory Commission and non-free trade agreement export authorization from the US Department of Energy, and construction activities are ongoing with more than $250 million spent on site preparation work, final engineering, and equipment purchases and fabrication.

The Plaquemines LNG project is expected to receive its final authorization from FERC in August and start construction this year.

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