Venture Global Locks In $1.75B Loan for Calcasieu Pass LNG Project
According to Rigzone, Venture Global Inc. announced that its subsidiary overseeing the Calcasieu Pass LNG project in Cameron Parish, Louisiana has entered into a $1.75 billion senior secured term loan B credit facility.
Market Impact
Venture Global, headquartered in Arlington, Virginia, said part of the proceeds were used to redeem preferred equity interests issued to Stonepeak Bayou Holdings II LP. Goldman Sachs served as lead left arranger and bookrunner, with Barclays, Natixis, and Wells Fargo as lead right arrangers and joint bookrunners.
“This transaction meaningfully reduces our overall cost of capital while further strengthening our balance sheet and liquidity position,” said Venture Global CEO Mike Sabel. “Just as importantly, it demonstrates our continued ability to efficiently access the capital markets, even in a dynamic environment.”
The financing comes as Venture Global reported a record 2025, with revenue rising 177% to $13.8 billion and net profit growing 53% to $2.3 billion. The company sold 1,409 trillion British thermal units of LNG last year, up 181% from 2024, and exported 380 cargoes compared to 239 the year prior.
Looking ahead, Venture Global is targeting commercial operation of its Plaquemines project Phase I in Q4 2026 and Phase II in mid-2027. For 2026, the company projects 486 to 527 total cargo exports, with 145 to 156 coming from Calcasieu Pass and 341 to 371 from Plaquemines. On March 13, 2026, the Plaquemines project received Department of Energy authorization to export up to 27.2 million metric tons per annum of LNG.
What It Means for Subcontractors
- Active construction pipeline on the Gulf Coast. Venture Global has three projects in operation or under construction along the Louisiana Gulf Coast. Subcontractors in civil, mechanical, electrical, and instrumentation trades should be positioning now for Plaquemines Phase II work ahead of a mid-2027 target completion.
- Plaquemines commissioning is live. Venture Global confirmed it is actively progressing construction, commissioning, and assurance testing at Plaquemines. Field service companies specializing in commissioning support, equipment testing, and turnaround work have a near-term opportunity to pursue scopes tied to Phase I COD in Q4 2026.
- Strong financials reduce project risk. With $2.36 billion in cash on hand at year-end 2025 and a freshly strengthened balance sheet, Venture Global carries the liquidity to sustain active construction spending. Subcontractors evaluating credit risk before mobilizing should take note.
- Watch the export authorization numbers. The Calcasieu Pass permit covers up to 12.4 million metric tons per annum of LNG exports. As volumes grow, ongoing maintenance, inspection, and operational support contracts at the Cameron Parish facility represent recurring work for local and regional service providers.
