Venture Global LNG wraps up $1.25 billion senior notes offering

US liquefaction plant developer Venture Global LNG said it has completed its $1.25 billion offering of senior secured notes.

Venture Global Calcasieu Pass, Venture Global’s unit and the developer of the Calcasieu Pass liquefaction plant in Louisiana, closed the offering of 3.875% senior secured notes due 2033 on Monday.

The notes will mature on November 1, 2033, and are guaranteed by TransCameron Pipeline, VGCP’s affiliate.

According to Venture Global, VGCP plans to use the net proceeds from the offering to prepay certain amounts outstanding under its existing senior secured first lien credit facilities.

It also aims to pay breakage and hedge termination costs in connection with such prepayment and pay fees and expenses in connection with the offering, the firm said.

Venture Global should soon produce the first LNG at the liquefaction plant in Louisiana as it recently secured approval from federal regulators to start commissioning the Block 1 liquefaction modules and the south LNG tank.

Once completed, Calcasieu Pass will produce about 10 mtpa of LNG from 18 modular units configured in 9 blocks.

Venture Global gets Calcasieu Pass modular trains from Baker Hughes’ manufacturing facility in Italy.

The firm said earlier this year that it could start first exports from the LNG facility by the end of this year, with full operations planned in 2022.

Following completion, the Calcasieu Pass project will become the seventh large LNG export facility in the US.

Most Popular

Shell adds another LNG carrier to its fleet

A unit of UK-based LNG giant Shell has added another chartered liquefied natural gas carrier to its fleet.

CMA CGM’s LNG-powered giant floated out in China

China’s Hudong-Zhonghua has launched the third in a new series of 24,000-teu LNG dual-fuel containerships for French shipping giant CMA CGM.

Venture Global gets OK to introduce gas to final Plaquemines LNG block

US LNG exporter Venture Global LNG has received approval from the US FERC to introduce natural gas to the 18th and final liquefaction block at the Plaquemines LNG terminal in Louisiana as part of the plant’s commissioning process.

More News Like This

Venture Global gets OK to introduce gas to final Plaquemines LNG block

US LNG exporter Venture Global LNG has received approval from the US FERC to introduce natural gas to the 18th and final liquefaction block at the Plaquemines LNG terminal in Louisiana as part of the plant’s commissioning process.

Venture Global’s Plaquemines LNG to commission 18th liquefaction block with nitrogen

US LNG exporter Venture Global LNG has received approval from the US FERC to commission the liquefaction train system block 18 with nitrogen at its Plaquemines plant in Louisiana.

Venture Global eyes FID on second CP2 phase in 2026

US LNG exporter Venture Global LNG expects to make a final investment decision on the second phase of its CP2 LNG project in Louisiana in 2026, according to CEO Mike Sabel.

Venture Global wins Calcasieu Pass arbitration against Shell

US LNG exporter Venture Global LNG has won an arbitration case against UK-based LNG giant Shell over LNG sales from the Calcasieu Pass plant in Louisiana.