I Squared invests $460m in Venture Global’s LNG projects in Louisiana

Florida-based infrastructure investment manager I Squared Capital has disclosed a previously made $460 million equity investment in Venture Global LNG, the developer of three US LNG projects in Louisiana with a combined capacity of 50 million tonnes per annum (mtpa).

The assets of the Virginia-based Venture Global LNG are the Plaquemines LNG export project, the Calcasieu Pass LNG export project, and the Delta LNG export project.

The equity investment from I Squared Capital in Venture Global LNG was done using its ISQ Global Infrastructure Fund II. I Squared Capital is one of the institutional investors, who have helped the LNG producer recently raise $675 million of additional capital to advance the Plaquemines LNG export project, in particular.

Bob Pender and Mike Sabel – Co-CEOs of Venture Global LNG said: “We are delighted to partner with I Squared Capital, a leading global infrastructure investor, as we build over 60 MTPA of LNG production capacity in Louisiana. This investment will support the development of our pipeline of opportunities along the Gulf Coast.”

I Squared invests $460m in Venture Global’s LNG projects in Louisiana. Image by Free-Photos from Pixabay.

Overall, Venture Global LNG has secured nearly $2.83 billion for the development of its three US LNG projects in Louisiana.

Planned to be brought into full commercial operations in 2023, the Plaquemines LNG export project in Plaquemines Parish will have a capacity of 20mtpa of LNG.

The second LNG facility, which is the Calcasieu Pass LNG export being built at the intersection of the Calcasieu Ship Channel and the Gulf of Mexico in Cameron Parish, will have 10mtpa capacity of LNG.

On the other hand, the Delta LNG export project is planned to be built on Mississippi River, south of New Orleans, with a capacity of 20mtpa of LNG.

Gautam Bhandari – Managing Partner of I Squared Capital, commenting on the investment in the three LNG projects in Louisiana said: “We are excited to support Venture Global LNG and its exceptional management team for years to come as they become a global leader in LNG production, leveraging both their highly cost-efficient liquefaction technology and affordable U.S. shale gas.

“Our investment gives us exposure to Venture Global’s entire pipeline of highly innovative projects, which will transform how LNG liquefaction facilities will be built in the future.”

All the three US LNG projects in Louisiana of Venture Global LNG will feature the LNG technology from Baker Hughes, a GE company, that will leverage liquefaction trains that are highly efficient mid-scale, modular, and factory-fabricated.