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Shell Plans Exit From Proposed Lake Charles LNG Export Project

Shell announced that “[g]iven current market conditions . . . it will not proceed with an equity interest in the proposed Lake Charles LNG [export] project.” Energy Transfer will take over as the project developer. The press release states that “Lake Charles LNG is a proposed 50/50 project between Shell and Energy Transfer that seeks to convert Energy Transfer’s...

Dominion Energy Sells 25% Interest in Dominion Cove Point LNG

Dominion Energy, Inc. (“Dominion Energy”) announced that it has entered into an agreement with Brookfield Super-Core Infrastructure Partners, an infrastructure fund managed by Brookfield Asset Management Inc. (“Brookfield”), whereby Dominion Energy will transfer a 25% non-controlling equity interest in Dominion Energy Cove Point LNG, LP (“Cove Point”) to Brookfield in exchange for cash...

Venture Global LNG Announces FID and Financial Close for Calcasieu Pass LNG

Venture Global LNG, Inc. announced the final investment decision (FID) and closing of the project financing for the company’s Calcasieu Pass LNG facility and associated TransCameron pipeline in Cameron Parish, La. According to the press release, “[t]he proceeds of the debt and equity financing fully fund the balance of the construction and commissioning of Calcasieu Pass. Full...

Venture Global Obtains $10 Billion in Binding Commitments for its $5.8 Billion Calcasieu Pass LNG Project

Venture Global LNG, Inc. announced that it has received over $10 billion in binding commitments for construction financing of its proposed $5.8 billion Calcasieu Pass LNG terminal in Cameron Parish, La. According to the press release, “the transaction is nearly two times oversubscribed, prior to retail syndication. The proceeds of the construction financing, along with the equity...

Total and Tellurian Finalize Driftwood Equity Investment and LNG Purchase Agreements

Tellurian Inc. (Tellurian) announced that it has entered into definitive agreements with Total Delaware, Inc. (Total) and Total Gas & Power North America, Inc. (Total Gas & Power), subsidiaries of Total S.A., for Total Gas & Power to purchase one million tonnes per annum (mtpa) of LNG from the proposed Driftwood LNG terminal (Driftwood) in Calcasieu Parish, La., and for...

Venture Global LNG Raises $675 Million of Additional Capital for Plaquemines LNG Project

Venture Global LNG, Inc. announced that it has raised $675 million of additional capital which will be used primarily for the further development of the company’s proposed 20 million tonnes per annum Plaquemines LNG export project in Plaquemines Parish, La. According to the press release, “[i]n addition to the $855 million of capital previously raised at Venture Global LNG and the $1.3...

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