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. 

Venture Global LNG made a final investment decision to build a liquefied natural gas export facility about 50 miles south of Lake Charles after the Arlington, Virginia-based company closed on its round of financing, which included equity and debt.

The Calcasieu Pass project is expected to cost $4.25 billion and create 130 jobs in addition to 1,500 temporary construction jobs. The LNG facility is expected to start commercial operations by 2022.

Venture Global LNG obtained all of its permits and federal export authorization. It already has 20-year purchase agreements with Shell, BP, Edison, Galp, Repsol and PGNiG.

By 2024, the company expects to have three LNG export facilities in Louisiana.

Venture Global LNG 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, which chipped in $1.3 billion in equity.

Venture Global LNG raises $10B for projects to cost $5.8B in Louisiana

Venture Global files for third Louisiana natural gas export facility

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Email Kristen Mosbrucker at kmosbrucker@theadvocate.com.