Calcasieu Pass LNG Terminal

From Global Energy Monitor
This article is part of the Global Fossil Infrastructure Tracker, a project of Global Energy Monitor.
Sub-articles:

Calcasieu Pass LNG Terminal is an LNG terminal in Cameron Parish, Louisiana, United States. It is currently under construction.[1]

Location

Loading map...

Project Details

  • Owner: Venture Global Calcasieu Pass, LLC
  • Parent: Venture Global LNG
  • Location: Cameron Parish, Louisiana, United States
  • Coordinates: 29.85, -93.2 (approximate)
  • Capacity: 10 mtpa (1 mtpa per train)[2]
  • Status: Construction[3]
  • Type: Export[2]
  • Trains: 10[2]
  • Start Year: 2021[4]
  • Financing: US$2 billion equity investment from Venture Global LNG and Stonepeak Infrastructure Partners; US$5.7 billion in loans from a consortium of international banks;[5] US$220 million debt facility from Morgan Stanley

Note: mtpa = million tonnes per year; bcfd = billion cubic feet per day

Background

Calcasieu Pass LNG Terminal is a proposed LNG terminal in Louisiana, United States.[6] The facility would be located in Cameron Parish, Louisiana, south of Lake Charles. [7] Construction is expected through 2019, and according to Venture Global Calcasieu Pass LLC, full commencement of operations at Calcasieu Pass are expected in the last quarter of 2019.[8]

In February of 2019, Venture Global Calcasieu Pass received authorization to construct the export facility in Cameron Parish and associated TransCameron Pipeline from the Federal Energy Regulatory Commission (FERC), and the company planned to begin construction immediately. The project is expected to be operational in 2020, and the company already has binding 20-year sale and purchase agreements with Shell, BP, Edison S.p.A., Galp, Repsol and PGNiG.[9] As intended, construction began in February 2020.[1]

Financing

In May of 2019, Venture Global LNG Inc. received a US$1.3 billion equity investment from Stonepeak Infrastructure Partners to fund construction of the terminal.[10] In August of 2019, the project reached financial close on US$5.77 billion in loans from a consortium of international private banks including Goldman Sachs, JPMorgan Chase, Mizuho, Santander and Sumitomo Mitsui Banking Corporation.[11] The project received an additional US$220 million debt facility from Morgan Stanley to be used to finalise engineering work and commence site construction activity.[12] Part of a US$500 million loan from Bank of America, JPMorgan Chase, Mizuho and Morgan Stanley which Venture Global LNG secured in February 2021 was reported to be going to the Calcasieu Pass project.[13]


Articles and resources

References

  1. 1.0 1.1 Venture Global tests Calcasieu Pass LNG compression system Oil & Gas Journal, April 3, 2020
  2. 2.0 2.1 2.2 U.S. Liquefaction Capacity, Energy Information Administration, November 3, 2020
  3. 2020 World LNG Report, page 102, International Gas Union, April 27, 2020
  4. Harry Weber, Louisiana Calcasieu Pass LNG terminal could ship first cargo in late 2021: Venture Global, S&P Global, March 18, 2021
  5. Calcasieu Pass LNG, IJGlobal, accessed Jun. 4, 2020
  6. Calcasieu Pass LNG Export Terminal Project, A Barrel Full, 14 January 2015
  7. Calcasieu Pass, Venture Global LNG, Accessed 21 May 2017
  8. Venture Global LNG raises $55 million, LNG World News, 4 May 2016
  9. U.S. Calcasieu Pass Project Gets LNG Export Approval The Maritime Executive, 5 May 2019
  10. Stonepeak invests $1.3 billion in Calcasieu Pass LNG Oil and Gas Journal, May 28, 2019
  11. Calcasieu Pass LNG IJGlobal, Sep. 30, 2019
  12. Calcasieu Pass LNG Bridge Facility IJGlobal, Sep. 30, 2019
  13. Two LNG export projects move forward in the United States, Enerdata, Feb. 15, 2021

Related GEM.wiki articles

External resources

External articles