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.

- Advertisements -

Most Popular

Perenco takes stake in Golar LNG

London-based oil and gas firm Perenco has purchased a stake in floating LNG player Golar LNG. According to a SEC...

Singapore LNG bunkering volumes hit new record

Singapore’s liquefied natural gas (LNG) bunkering sales reached a new record in May, according to Singapore’s Maritime and Port...

Singapore’s Temasek says to sell Pavilion to Shell

Singapore's investment firm Temasek said it had agreed to sell 100 percent of its shares in Pavilion Energy to...

More News Like This

Venture Global inks deal with DTEK to supply LNG to Ukraine

US LNG exporter Venture Global LNG has signed a heads of agreement with a unit of Ukraine's DTEK to...

Venture Global LNG’s customers get access to Calcasieu Pass documents

The US FERC has ordered LNG exporter Venture Global LNG to provide its customers with documents about the commissioning...

Venture Global: Plaquemines LNG to start production in mid-2024

US LNG exporter Venture Global LNG expects to start LNG production at its Plaquemines LNG export plant in Louisiana...

Venture Global says building fleet of nine LNG carriers

US LNG exporter Venture Global LNG said on Sunday it has nine liquefied natural gas carriers on order in...