Stonepeak Infrastructure Partners announced it will provide a $1.3 billion equity investment in Venture Global’s 10 million tonnes per annum (mpta) Calcasieu Pass LNG export facility in Cameron Parish, Louisiana. The total committed capital to fund the Calcasieu Pass Project and the continued development of the 20 mtpa Plaquemines and 20 mpta Delta facilities is $2.2 billion.
The Calcasieu Pass facility is scheduled to begin providing LNG to Shell, BP, Edison S.p.A., Galp, Repsol and PGNiG in 2022. It will employ a comprehensive process solution from Baker Hughes that utilizes highly efficient mid-scale, modular, factory-fabricated liquefaction trains. Kiewit is designing, engineering, constructing, commissioning, testing and guaranteeing the Calcasieu Pass facility. Calcasieu Pass has received all necessary permits, including FERC authorization and Non-FTA export authorization
Morgan Stanley served as the exclusive financial advisor for Venture Global LNG and Latham & Watkins LLP served as legal counsel. Simpson Thacher served as legal counsel for Stonepeak.
As part of the investment, Stonepeak Managing Director James Wyper will join the board of Calcasieu Pass.
