Simpson Thacher is representing Stonepeak Infrastructure Partners in connection with its definitive agreement with Venture Global LNG, Inc. (“Venture Global”), under which Stonepeak will exclusively provide a $1.3 billion equity investment in Venture Global's 10 million tonnes per annum (MTPA) Calcasieu Pass LNG export facility in Cameron Parish, Louisiana. This brings the total committed capital to fund the construction of Calcasieu Pass and the continued development of Venture Global's 20 MTPA Plaquemines LNG and 20 MTPA Delta LNG facilities to $2.2 billion.
Calcasieu Pass has received all necessary permits, including FERC authorization and Non-FTA export authorization from the U.S. Department of Energy, and construction activities are ongoing with over $250 million spent on site preparation work, final engineering and equipment purchases and fabrication. Venture Global expects to secure FERC and DOE authorizations for Plaquemines LNG in the third quarter of this year and commence construction shortly thereafter.
The Simpson Thacher team includes Eli Hunt, James Parry and Rui Xie (M&A); Amy Beller (Project Finance); Christopher Brown and James Doyle (Credit); Ryan Bekkerus (Capital Markets); Andrew Purcell and Sarah Katz (Tax); Larry Moss and Patricia Adams (Benefits); Adeeb Fadil and Noreen Lavan (Environmental); Timothy Gallagher (Real Estate); Lori Lesser and Genevieve Dorment (Intellectual Property); Peter Guryan and Kelly Karapetyan (Antitrust); and Jonathan Karen, Deborah Gruen and Matthew Kemp (Funds).