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

Aramco eyes large LNG portfolio

Aramco's long-term ambition is to have a portfolio of 20 million tonnes per annum (mtpa) of LNG capacity, according to Aramco’s CEO, Amin Nasser.

ConocoPhillips books Dunkirk LNG capacity

US energy giant ConocoPhillips has booked regasification capacity at France's Dunkirk LNG facility, and it also signed an Asian LNG sales and purchase deal.

Inpex: Ichthys terminal sent 65 LNG cargoes in H1

Japan’s Inpex has shipped 65 LNG cargoes from its Ichthys export plant in Australia during the first six months of this year, down by one cargo compared to the same period last year.

More News Like This

Venture Global gets DOE OK to boost Calcasieu Pass LNG exports

US LNG exporter Venture Global LNG has received approval from the US Department of Energy (DOE) for an uprate amendment to its Calcasieu Pass LNG project in Louisiana.

Venture Global’s Plaquemines LNG to commission fourth tank

US LNG exporter Venture Global LNG has received approval from the US FERC to commission the fourth storage tank with LNG at its Plaquemines plant in Louisiana.

DET’s first Wilhelmshaven FSRU gets 100th LNG cargo

Germany's LNG import terminal operator DET has received the 100th cargo of liquefied natural gas at its first FSRU-based terminal in Wilhelmshaven. Venture Global LNG's vessel Venture Gator delivered the shipment from the US.

Worley gets full notice to proceed on first phase of CP2 LNG project

Australian engineering firm Worley has received a full notice to proceed from US LNG exporter Venture Global LNG under its reimbursable EPC contract for the first phase of the CP2 LNG project in Louisiana.