Stonepeak Infrastructure Partners’ Investment In Calcasieu Pass LNG Export Facility

Simpson Thacher represented 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 included Eli Hunt (Picture), 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).

Involved fees earner: Patricia Adams – Simpson Thacher & Bartlett; Ryan Bekkerus – Simpson Thacher & Bartlett; Amy Beller – Simpson Thacher & Bartlett; Christopher Brown – Simpson Thacher & Bartlett; Genevieve Dorment – Simpson Thacher & Bartlett; James Doyle – Simpson Thacher & Bartlett; Adeeb Fadil – Simpson Thacher & Bartlett; Timothy Gallagher – Simpson Thacher & Bartlett; Deborah Gruen – Simpson Thacher & Bartlett; Peter Guryan – Simpson Thacher & Bartlett; Eli Hunt – Simpson Thacher & Bartlett; Kelly Karapetyan – Simpson Thacher & Bartlett; Jonathan Karen – Simpson Thacher & Bartlett; Sarah Katz – Simpson Thacher & Bartlett; Matthew Kemp – Simpson Thacher & Bartlett; Noreen Lavan – Simpson Thacher & Bartlett; Lori Lesser – Simpson Thacher & Bartlett; Laurence Moss – Simpson Thacher & Bartlett; James Parry – Simpson Thacher & Bartlett; Andrew Purcell – Simpson Thacher & Bartlett; Rui Xie – Simpson Thacher & Bartlett;

Law Firms: Simpson Thacher & Bartlett;

Clients: Stonepeak Infrastructure Partners;

Author: Ambrogio Visconti