Country for PR: United States
Contributor: PR Newswire New York
Tuesday, August 20 2019 - 03:45
AsiaNet
Venture Global Announces Financial Close for Calcasieu Pass LNG
ARLINGTON, Va., Aug. 20, 2019 /PRNewswire-AsiaNet/ --

Venture Global LNG, Inc. is proud to announce the closing of the project 
financing for the company's Calcasieu Pass LNG facility and associated 
TransCameron pipeline in Cameron Parish, Louisiana. The proceeds of the debt 
and equity financing fully fund the balance of the construction and 
commissioning of Calcasieu Pass.  Full site construction has been underway 
since February 2019, and the project is expected to reach its Commercial 
Operations Date (COD) in 2022.

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Stonepeak Infrastructure Partners provided a $1.3 billion equity investment for 
the project.  The lender group for the company's $5.8 billion construction 
financing includes the world's leading Asian, European and North American 
project finance banks.  The lenders who provided funding at closing are 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, "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.  Venture Global LNG is also developing the 20 
MTPA Plaquemines LNG project and the 20 MTPA Delta LNG project, both in 
Plaquemines Parish, Louisiana.  

Morgan Stanley served as financial advisor to Venture Global for the 
transaction.  Latham & Watkins LLP served as counsel to Venture Global and 
Skadden, Arps, Slate, Meagher & Flom LLP served as counsel to the lenders.

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. 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 and the 20 MTPA 
Venture Global Delta LNG facility south of New Orleans on the Mississippi 
River. 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, Venture Global media contact: Jessica Wickett, D: +1 202 
759-6739, jwickett@vglng.com 
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