Country for PR: United States
Contributor: PR Newswire New York
Friday, July 19 2019 - 09:02
AsiaNet
Venture Global Secures Binding Commitments of over $10 billion for its $5.8 billion Calcasieu Pass LNG Construction Financing
ARLINGTON, Virginia, July 19, 2019 /PRNewswire-AsiaNet/ --

Venture Global LNG, Inc. is proud to announce that the company's $5.8 billion 
Calcasieu Pass LNG construction financing has received over $10 billion in 
binding commitments from Initial Coordinating Lead Arrangers. 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.

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The lender group includes the world's leading Asian, European and North 
American project finance banks.

The bank group is Banco Santander, S.A, Bank of America, N.A., Goldman Sachs 
Bank USA, Industrial & Commercial Bank of China Limited, ING Capital LLC, 
JPMorgan Chase Bank, N.A., Mizuho Bank, Ltd., Morgan Stanley Senior Funding, 
Inc., Natixis, Nomura Securities International, Inc., Royal Bank of Canada, 
Sumitomo Mitsui Banking Corporation, and The Bank of Nova Scotia.

Venture Global LNG Co-CEOs Mike Sabel and Bob Pender jointly stated, "The 
incredible market response to our Calcasieu Pass debt facility is the 
culmination of many years of work by our team. We are incredibly proud that the 
world's leading project finance institutions have responded with such a 
validation of the quality of our structure and partners with outstanding terms 
and a significant oversubscription. The company has now secured more than $8.6 
billion of capital and is continuing full construction and fabrication activity 
at Calcasieu Pass."

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.

About Venture Global LNG

Venture Global LNG is a long-term, low-cost provider of LNG to be supplied from 
resource rich North American natural gas basins. Venture Global LNG's 
liquefaction process system employs a highly efficient and reliable suite of 
products supplied by BHGE. The 10 MTPA Venture Global Calcasieu Pass facility 
is under construction at the intersection of the Calcasieu Ship Channel and the 
Gulf of Mexico. Venture Global LNG  is also developing the 20 MTPA Venture 
Global Plaquemines LNG facility 30 miles south of New Orleans on the 
Mississippi River, and the 20 MTPA Venture Global Delta LNG facility, also on 
the Mississippi River south of New Orleans. Venture Global has raised total 
committed capital to-date of approximately $8.6 billion to support the 
development of its projects. More can be found at www.venturegloballng.com.

SOURCE: Venture Global LNG, Inc.

CONTACT: Venture Global investor contact: Leah Woodward, D: +1 202 759-6746, 
lwoodward@vglng.com, or Venture Global media contact: Jessica Wickett, D: +1 
202 759-6739, jwickett@vglng.com
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