Venture Global LNG said its Calcasieu Pass project in Louisiana has secured more than $10 billion in binding commitments from a group of lenders including Bank of America, Goldman Sachs and JPMorgan Chase.
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 terminal has secured 20-year supply agreements with several customers, including the Royal Dutch Shell, BP, Repsol and Poland's PGNiG.
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, Louisiana.
Venture Global also is developing the Plaquemines LNG project and the Delta LNG project, both in Louisiana.