Venture Global Announces Final Investment Decision and Financial Close for Calcasieu Pass LNG

Venture Global LNG announced yesterday the closing of the project financing and a Final Investment Decision for the company’s Calcasieu Pass LNG facility and associated TransCameron pipeline in Cameron Parish, Louisiana. Venture Global noted the proceeds of the debt and equity financing fully fund the balance of the construction and commissioning of Calcasieu Pass. The project is expected to reach its Commercial Operations Date in 2022 according to Venture Global LNG

Venture Global LNG Co-CEOs Mike Sabel and Bob Pender jointly stated, “Our goal has always been to lower the cost of electricity by delivering clean, low-cost LNG to the world. The closing of our financing is the culmination of years of hard work, and we want to sincerely thank our Venture Global team, our construction partners, our foundation customers, our lenders and advisors, Cameron Parish and our local partners in Louisiana.”

Calcasieu Pass has received all necessary permits, including FERC authorization and Non-FTA export authorization from the U.S. Department of Energy. The project has 20-year LNG sale and purchase agreements with Shell, BP, Edison S.p.A., Galp, Repsol and PGNiG.