Venture Global LNG closed the project financing for its Calcasieu Pass LNG export project in Louisiana, supporting the full construction and commissioning of the planned facility to reach its targeted commercial startup in 2022.
The lenders providing funding at closing include Banco Santander SA, Bank of America NA, Goldman Sachs Bank USA, Industrial & Commercial Bank of China Ltd., ING Capital LLC, JPMorgan Chase Bank NA, Mizuho Bank Ltd., Morgan Stanley Senior Funding Inc., Natixis, Nomura Securities International Inc., Royal Bank of Canada, Sumitomo Mitsui Banking Corp. and the Bank of Nova Scotia.
The financing would also back the development of the associated TransCameron pipeline, which would provide about 1.9 Bcf/d of feed gas to the Calcasieu Pass facility in Cameron Parish, La. The 10 million-tonne-per-annum LNG facility and pipeline require about $5.8 billion in construction financing.
Calcasieu Pass has obtained FERC authorization, the U.S. Department of Energy's approval to export to countries without a free trade agreement with the U.S., and other necessary permits. It is expected to receive a final investment decision by the end of the quarter.
Morgan Stanley served as financial adviser, and Latham & Watkins LLP served as counsel to Venture Global.
