Venture Global LNG

Renderings show Venture Global LNG's plans in Cameron Parish for a new LNG export facility there expected to be open in 2022. 

Institutional investment banks are so bullish about Venture Global LNG's plans for export facilities in Louisiana that the company significantly oversubscribed its most recent investment round.

Venture Global LNG, based in Arlington, Virginia, sought to raise $5.8 billion but global banks — such as Spanish bank Banco Santander, Bank of America, JPMorgan Chase Bank, Royal Bank of Canada, Japanese bank Sumitomo Mitsui Banking Corp. and the Industrial & Commercial Bank of China — committed $10 billion. Other investors include Stonepeak Infrastructure Partners.

This most recent investment round is to pay for Venture Global LNG's Calcasieu Pass project, about 50 miles south of Lake Charles. It is expected to cost $4.25 billion and create 130 jobs in addition to 1,500 temporary construction jobs. 

The company has been working on three LNG export facilities across Louisiana — Calcasieu Pass, Plaquemines LNG and Delta LNG — for a total of $15 billion of investment in the state. All three export facilities combined are expected to export up to 50 million metric tons of liquefied natural gas each year. Calcasieu Pass and Plaquemines LNG are anticipated to begin operations in 2022, while Delta LNG may be up and running by 2024.

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Email Kristen Mosbrucker at kmosbrucker@theadvocate.com.