Venture Global’s $5.8bn Calcasieu Pass LNG construction financing has received more than $10bn in binding commitments from initial coordinating lead arrangers.

Along with a $1.3bn equity investment from Stonepeak Infrastructure Partners, the funding will be used towards the construction and commissioning of the Calcasieu Pass facility and the associated TransCameron pipeline.

Stonepeak signed an agreement to invest in the project in May.

The project is being developed by Venture Global Calcasieu Pass, a subsidiary of Venture Global LNG.

The financing for the project was provided by Asian, European and North American project finance banks.

Venture Global LNG co-CEOs Mike Sabel and Bob Pender jointly said: “The incredible market response to our Calcasieu Pass debt facility is the culmination of many years of work by our team.

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“The company has now secured more than $8.6bn of capital and is continuing full construction and fabrication activity at Calcasieu Pass.”

The bank group comprises global firms such as Banco Santander, Bank of America, Morgan Stanley Senior Funding, Royal Bank of Canada and The Bank of Nova Scotia.

Venture Global has hired Baker Hughes, a GE company (BHGE), to provide a process solution for the 10Mtpa Calcasieu Pass project. The solution uses mid-scale modular liquefaction trains.

US-based Kiewit is designing, constructing, commissioning and testing the Calcasieu Pass facility.

Calcasieu Pass has received the required permits, including the US Federal Energy Regulatory Commission (FERC) authorisation and a non-free trade agreement (non-FTA) export permit from the US Department of Energy.

Venture Global is also developing the 20Mtpa Plaquemines LNG project and the 20Mtpa Delta LNG project. Both of them are located in Plaquemines Parish, Louisiana.

Last month, Polish Oil and Gas Company (PGNiG) signed an agreement to purchase an additional 1.5Mmtpa of LNG from the company’s Plaquemines terminal.