Stonepeak Infrastructure Partners will make a major investment in Venture Global LNG’s Louisiana LNG export facility.
The two companies announced they have executed definitive agreements in which Stonepeak will provide a US$1.3 billion equity investment to Venture Global’s Calcasieu Pass export facility in Cameron Parish, Louisiana.
The 10 million t/a facility will be designed, engineered, constructed, commissioned, tested and guaranteed by Kiewit, and will employ midscale modular factory-fabricated liquification trains from Baker Hughes, a GE company.
Since expanding its development business to meet customer demand, Calcasieu Pass has received all necessary permits and has seen US$250 million spent on site preparation works, engineering and equipment purchases and fabrication.
Venture Global co-CEO Mike Sabel said Stonepeak was a world-class investor.
“Their team brings a great depth of LNG knowledge and a track record of investing in exceptional infrastructure projects throughout North America,” he said.
Fellow Venture Global co-CEO Bob Pender said the project was tracking well due to the US$855 million that had previously been raised.
“We are finalising the balance of our Calcasieu Pass financing with our consortium of project finance lenders, and we look forward to providing LNG to our global customers – Shell, BP, Edison, Galp, Repsol and PGNiG – in 2022,” he said.
Commercial operations at the project are targeted for 2022.
For more information visit the Venture Global website.
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