Venture Global has closed a $1.75bn senior secured term loan B credit facility through its subsidiary Calcasieu Pass Funding, which indirectly oversees the Calcasieu Pass liquefied natural gas (LNG) project in Louisiana, US.
This financing enabled the redemption of preferred equity interests previously held by Stonepeak Bayou Holdings II.
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Goldman Sachs led the syndication as the left lead arranger and sole bookrunner. Barclays, Natixis and Wells Fargo supported the financing as right lead arrangers and joint bookrunners.
Venture Global was advised by Latham & Watkins and the arranger group was advised by Skadden, Arps, Slate, Meagher & Flom.
Venture Global CEO Mike Sabel said: “We are very pleased to successfully close this $1.75bn secured credit facility, which represents a significant milestone for our company.
“This transaction meaningfully reduces our overall cost of capital while further strengthening our balance sheet and liquidity position. Just as importantly, it demonstrates our continued ability to efficiently access the capital markets, even in a dynamic environment.
“We believe this enhanced financial flexibility positions us well to execute on our strategic priorities and drive long-term value for our stakeholders.”
Built at Cameron Parish, the Calcasieu Pass project began commercial operations in April 2025. The liquefaction and export facility is strategically located on the Calcasieu Ship Channel.
The project site benefits from access to deep waters, abundant gas resources and efficient transportation routes.
Calcasieu Pass, which covers 432 acres, is linked to major gas pipelines and directly connects to key gas basins in North America.
Its design includes 18 liquefaction trains split into nine blocks, capable of processing 626,000 tonnes per annum (tpa). In August 2025, the US Department of Energy authorised the project to increase its capacity from 12 million tonnes per annum (mtpa) to 12.4mtpa.
Calcasieu Pass also offers three gas pre-treatment trains, two LNG storage tanks, each with a capacity of 200,000m³, and two ship berths suitable for loading ships up to 185,000m³.
The facility features a 720MW combined cycle gas turbine power plant and a 42in, 24-mile pipeline known as TransCameron.
