Venture Global LNG, Stonepeak announce US$1.3 billon investment for Calcasieu Pass LNG export facility

Venture Global LNG, Inc. and Stonepeak Infrastructure Partners have jointly announced that they have executed definitive agreements under which Stonepeak will exclusively provide a US$1.3 billion equity investment in Venture Global's 10 million tonnes per annum (MTPA) Calcasieu Pass LNG export facility in Cameron Parish, Louisiana. This brings total committed capital to fund the construction of Calcasieu Pass and the continued development of Venture Global's 20 MTPA Plaquemines LNG and 20 MTPA Delta LNG facilities to US$2.2 billion.

The 10 MTPA nameplate Venture Global Calcasieu Pass facility will employ a comprehensive process solution from Baker Hughes that utilizes highly efficient mid-scale, modular, factory-fabricated liquefaction trains. Kiewit is designing, engineering, constructing, commissioning, testing and guaranteeing the Calcasieu Pass facility. Calcasieu Pass has received all necessary permits, including FERC authorization and Non-FTA export authorization from the U.S. Department of Energy, and construction activities are ongoing with over US$250 million spent on site preparation work, final engineering and equipment purchases and fabrication. Venture Global expects to secure FERC and DOE authorizations for Plaquemines LNG in the third quarter of 2019 and commence construction shortly thereafter.

Morgan Stanley served as the exclusive financial advisor for Venture Global LNG on this transaction and Latham & Watkins LLP served as Venture Global's legal counsel. Simpson Thacher served as legal counsel for Stonepeak.